Illinois launches RFI for I-55 P3 project
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The Illinois Department of Transportation (IDOT), USA, has issued a formal Request for Information (RFI) seeking responses from interested parties to develop a plan to leverage private investment to build the Interstate 55 expansion P3 project.
During the RFI process, private firms are encouraged to submit their ideas on how to best deliver the managed lanes under a P3 arrangement with the state.
The feedback received from the RFI will help IDOT in creating criteria and an overall plan to design, build, finance, operate and maintain (DBFOM) the managed lanes on I-55 if the project is pursued as a P3.
As we reported in early February, Illinois approved a legislative resolution that allowed the IDOT to use the P3 model for the Interstate 55 expansion project.
The project would add a tolled express lane to the expressway’s existing median between Interstate 355 and Interstate 90/94, reducing congestion and making travel throughout the region more efficient. The 25-mile stretch accommodates 170,000 vehicles a day, with about 15 percent trucks, making it one of the most important commuting and freight corridors in the state.
IDOT must receive the approval from the General Assembly to see the project through to completion. The total investment estimated for the project stands at US$425 million.
Responses to the Request for Information are due to IDOT by September 8. A forum will be held Sept. 20 at the Holiday Inn O’Hare for the public to learn more about the project. IDOT representatives will hold one-on-one meetings with potential private partners on Sept. 20 and 21.
Illinois Transportation Secretary Randy Blankenhorn, said:
“This is an important step for a project that can serve as a model for how to rebuild our roads and bridges. Working together with the private sector, we can learn about best practices for projects like this, potentially saving taxpayers time and money.”
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