A budget subcommittee has authorized the Nevada Department of Transportation to sell $180 million in bonds to complete Project Neon highway improvements in Las Vegas.
Department Director Rudy Malfabon told the Senate-Assembly subcommittee the federal government will reimburse the state 95 percent of the cost for the final phase of construction.
Included in the bond money is a $20 million incentive for the contractor to complete the work sooner than required. The project should be done by July 2019.
Legislators agreed the incentive was worth it to reduce the frustrations for motorists on the three-mile project on Interstate 15.
The $636 million construction cost does not include money paid to acquire properties to widen the freeway.
