MOBILE, Ala. (WALA) – This coming week is shaping up to be an important one for the new Mobile River Bridge & Bayway Project
A two-day process Sept. 16 and 17 should give Alabama the cash it needs to start construction of a six-lane cable-stayed bridge that will carry drivers from Mobile to a newly restriped Bayway that will allow for three lanes of traffic in both directions.
First, the state plans to finalize low-interest loans through the Transportation Infrastructure Finance and Innovation Act, or TIFIA, that can pay up to nearly half the cost of the project. Next, the state plans to sell revenue bonds to private investors to make up the portion not covered by the TIFIA loan and direct government spending…