The Louisville and Southern Indiana Bridges Authority on Monday approved a bi-state development agreement governing the construction, financing, and long-term management of the Ohio River Bridges Project.
The $2.6 billion cost of building two new river crossings is being split between Kentucky and Indiana.
Kentucky will build a new Interstate 65 bridge for northbound traffic, reconfigure the existing I-65 bridge for southbound traffic, and reconstruct a major interchange through Louisville.
To the east, Indiana will build another new bridge across the river between Prospect, Ky., and Utica, Ind., as well as highways that connect I-265 in both states.
The bi-state Bridges Authority was the last to approve the development agreement, which had already received support from the Indiana Finance Authority and the Kentucky Public Transportation Infrastructure Authority.
The development agreement will allow the two states to construct and maintain their respective projects. It also creates a joint board that will have long-term oversight and management responsibility for the project, including implementation of a tolling policy.
