Kutak Rock Serves as Bond Counsel in Award Winning TransactionNews | June 21, 2023
The Nebraska Department of Transportation’s (NDOT) Lincoln South Beltway project was awarded first place in the “Best Use of Technology & Innovation Large Project” category earlier this month at the annual meeting for the Western Association of State Highway and Transportation Officials (WASHTO).
The $236.8 million Arizona Industrial Development Authority financing for Nebraska’s Lincoln South Beltway project was named The Bond Buyer’s P3 (public-private partnership) 2020 Deal of the Year. The first-of-its-kind transportation project utilized an innovative contractor-led build finance structure and delivered the largest single-contract project in the history of NDOT.
The $352 million, 11-mile Lincoln South Beltway project connecting U.S. Highway 77 (US-77) and Nebraska Highway 2 (N-2) is one of the most complex projects NDOT has ever undertaken. Completion was accelerated by historic legislation to fund critical infrastructure projects in the state and by legislation to authorize the state to create additional industry innovations, including innovative financing.
The America’s Transportation Awards competition was created to showcase the tremendous projects delivered by state departments of transportation every year and to tell the broader story of the importance of transportation. This year, 36 state transportation departments participated in the competition, with 81 nominated projects in one of three categories. The other two categories are “Quality of Life/Community Development” and “Operations Excellence.”