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Board approves bonds for Vegas freeway project

The approval Monday by the Legislature's Interim Finance Committee came despite questions from some lawmakers over the public-private partnership that will be used to accelerate construction of Project Neon.

The Associated Press

12/10/2013

CARSON CITY, Nev. — A move to end gridlock on Interstate 15 in Las Vegas took a step forward as lawmakers authorized $100 million in bonds to buy the right of way.

The approval Monday by the Legislature's Interim Finance Committee came despite questions from some lawmakers over the public-private partnership that will be used to accelerate construction of Project Neon.

State Transportation Director Rudy Malfabon told lawmakers the $100 million bond authority will be used primarily to buy property needed for the freeway expansion.

Officials say the land is needed regardless how the overall construction is financed.

The project will be the largest in the agency's history and could cost $1.3 billion.

Malfabon says the state is about a year away from selecting a financing and construction team to build the project.

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