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Feds Provide Loan for Route 301 Toll Road

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DelDOT website

Delaware’s U.S. Route 301 toll road is about to get an infusion of federal cash.

The Department of Transportation signed off on a loan from the Federal Highway Administration that would allow for private credit markets to provide funding for state infrastructure.

The Wilmington News Journal reports that its part of $470 million for construction of an expressway that would run through the Middletown area.

The paper reports that the loan comes on the heels of an announcement that DelDOT has come up with private investors to finance $212.5 million worth of bonds.

The bonds will be repaid with money from the tolls collected along the new 13-mile highway that will run from the Maryland boarder to Delaware Route 1 below the Chesapeake and Delaware Canal. 

Don Rush is the News Director at Delmarva Public Media. An award-winning journalist, Don reports major local issues of the day, from sea level rise, to urban development, to the changing demographics of Delmarva.