RI Applying For $220.9M Mega Grant To Help Replace Washington Bridge

EAST PROVIDENCE, RI — Rhode Island will pursue a "mega grant" from the U.S. Department of Transportation to pay for 60 percent of the new Washington Bridge's construction costs, Gov. Dan McKee said Monday.

McKee said the state's application, which will include letters of support from the Rhode Island Congressional Delegation and private partners, will request $220.9 million in funding.

The mega grant program, established under the infrastructure law passed in 2021, is designed to fund large, complex transportation projects that may be difficult to fund by other means and are likely to yield economic, mobility or safety benefits. The federal government will make $1.7 billion in mega grants available during this latest funding round.

State officials said McKee also submitted a budget amendment to authorize a Grant Anticipation Revenue Vehicles (GARVEE) bond as another funding source for the bridge work. A GARVEE bond allows the state to borrow against future allocations of federal transportation infrastructure funding. State officials said this approach is designed for projects that require financial investments that exceed a state's annual allocation of transportation funding.

The budget amendment authorizes a GARVEE bond of up to $334.6 million to ensure enough financing for the bridge demolition and construction will be available if Rhode Island is not awarded a mega grant. If awarded the grant, the state would have to borrow a lot less money, according to state officials.

Other funding sources include: $37 million in repurposed federal funding awarded for the earlier work on the Washington Bridge, which was halted in December; $40 million in anticipated motor fuel vehicle tax revenues; $20 million in reallocated American Rescue Plan Act funds; and $23.6 million in other sources if additional dollars are needed.

State officials estimate the bridge project will cost $40.52 million for the demolition and $368.3 million for the design-build process. There is also an estimated cost of $46 million for emergency expenses, including work to stabilize the old bridge.

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