$338.6 million will save Virginia millions on interest payments.
The Department of Transportation announced on Tuesday that the Build America Bureau (the Bureau) provided a loan to the Chesapeake Bay Bridge-Tunnel District. The $338.6 million loan will be used to build the Parallel Thimble Shoal Tunnel across the mouth of the Chesapeake Bay in Virginia.
Build America Bureau Executive Director Morteza Farajian said, “The Bureau is pleased to support the Chesapeake Bay Bridge Parallel Thimble Shoal Tunnel project by refinancing the original loan to take advantage of lower interest rates. Today’s announcement will help the community save millions of dollars, address the economic harm caused by the pandemic, and keep important public works projects moving forward.”
As the Lord Leads, Pray with Us…
- For DOT Secretary Buttigieg to seek God’s direction as he oversees infrastructure funding.
- For Bureau Director Farajian as he provides oversight to building and repair projects.
- For officials in the Department of Transportation to have discretion and discernment in their duties.
Sources: Department of Transportation, CBBT.com
