5 infrastructure projects to watch in 2024

Published February 15, 2024 10:00 AM

Updated February 15, 2024 5:24 PM

1 Min Read

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Infrastructure projects to watch this year include the reconstruction of the Interstate 5 bridge in Oregon, which received federal funding, as well as the Biden administration's prioritization of high-speed rail systems on the West Coast.

Read more about these and other infrastructure projects in our roundup.

Oregon awarded $600 million federal grant to support $7.5 billion I-5 bridge replacement

Oregon was awarded $600 million, the full funding amount requested from the U.S. Department of Transportation grant program, to use toward the reconstruction of the Interstate 5 bridge, which connects Portland to Vancouver, Washington.

"This is a big moment for the Pacific Northwest," said Oregon Gov. Tina Kotek. "Replacing the Interstate Bridge is a critical infrastructure investment for our local communities, two states, the West Coast, and our nation."

The I-5 Bridge project received the most funding of the 11 awards nationwide in the so-called Mega Grant Program.

Read more:

Oregon scores $600 million in federal funding for I-5 bridge replacement

Bonds and federal grants are the plan to replace bridge connecting Minnesota and Wisconsin

State bonds and an additional $1 billion of federal grants are part of the plan to replace the deteriorating John A. Blatnik Bridge, which connects Superior, Wisconsin, to Duluth, Minnesota and is co-owned by the states' departments of transportation.

"At this point in time, knowing what we know, the current [total cost estimate] is $1.8 billion in year of expenditure dollars," Pat Huston, assistant district engineer, major projects for the Minnesota Department of Transportation, told Bond Buyer's Jennifer Shea. "It will likely change as we know more."

The bridge project requested federal funding through the U.S. Department of Transportation's Multimodal Project Discretionary Grant program, as well as USDOT's Bridge Investment Program, with each state additionally pledging $400 million.

Read more:

Bonds are part of plan to replace key bridge linking Wisconsin, Minnesota

The rollout of the $7.5 billion program to build a national network of electric vehicle chargers is too slow, according to Rep. Rick Larsen, D-Wash

Bloomberg

$7.5 billion EV charging network’s slow start earns criticism

In December, Ohio became the first state to open an electric vehicle charging station through the federally funded, $7.5 billion 2021 Infrastructure Investment and Jobs Act, disappointing lawmakers on both political sides with the delay.

"We took two years to stand the program up," said Shailen Bhatt, administrator of the Federal Highway Administration, during a recent Highways and Transit Subcommittee hearing. "We've been working with states and the Department of Energy" and other agencies "so we could do this right the first time."

The National Electric Vehicle Infrastructure program intends to create a 75,000-mile, coast-to-coast national electric vehicle charging network. It's considered key to the Biden administration's plan to get more citizens to buy electric vehicles.

Read more:

Lawmakers criticize slow rollout of $7.5 billion EV charging network

Biden administration prioritizes high-speed railways with $6 billion in funding

The White House is granting $6 billion to support two high-speed train projects in the western United States, pledging support as high speed rail has previously not been a priority.

"We greatly appreciate the commitment of the Biden administration, our coalition members and many others who have worked hard to spark America's high-speed rail revolution," Ray LaHood, co-chair of the U.S. High-Speed Rail Coalition, said in a recent statement.

This funding is an element of the 2021 Infrastructure and Investment Jobs Act's Federal-State Partnership for Intercity Passenger Rail program, which will provide grants to upgrade existing rail systems, including privately run lines.

Read more:

White House awards $6 billion to pair of high-speed trains in the west

All financing options being explored to support replacement of lead water pipes

All lead service water lines must be replaced under the EPA's newly proposed Lead and Copper Rule Improvements, with the EPA estimating the cost to be around $20 billion. Water systems are turning to municipal bonds, federal loans, state revolving funds and federal legislative help for funding.

"It's a big task," Dan Hartnett, chief advocacy officer at the Association of Metropolitan Water Agencies, recently told Bond Buyer's Caitlin Devitt. "We'll be encouraging our members to look at the variety of financing options. A lot is going to come from individual ratepayers."

This initiative is part of the Biden administration's plan to eradicate lead water pipes to prevent health issues, with the issue coming into the spotlight in 2014 during Flint, Michigan's water contamination crisis.

Read more:

All financing options on table for EPA's lead pipe replacement rule