The U.S. Department of Transportation announced Thursday that the Build America Bureau (the Bureau) would provide the Hampton Roads Transportation Accountability Commission (HRTAC) with up to $1.66 billion in Transportation Infrastructure Finance and Innovation Act (TIFIA) funding.
The direct loans would fund the Hampton Roads Bridge Tunnel (HRBT) project and would replace the existing 2019 TIFIA HRTAC loan. The funding consists of two TIFIA direct loans to HRTAC for up to $1.16 billion to finance up to 33 percent of the HRBT project, estimated to cost around $4 billion.
