BRADENTON, Fla. — The Georgia Transportation Board has agreed to a financing methodology for the nearly $1 billion Northwest Corridor project that could see more than half of the cost funded with bonds.

The 30-mile, managed-lane project, which will provide congestion relief for the Atlanta region, will be funded with a combination of state and federal motor fuel sales taxes, bonds backed by tolls and federal grant revenues, a low-interest federal loan, and equity from the private partner chosen to design and build the project.

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