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Governor Kasich Announces Innovative Funding Plan for Cleveland Innerbelt Bridge

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Published on Aug 27, 2012

Governor John R. Kasich announced August 23, 2012, that a first-of-its-kind financing option will eliminate construction delays for the Innerbelt Bridge project, despite ODOT's $1.6 billion budget hole. ODOT will use a public private partnership option -- or P3 -- that will allow contractors to finance more than $300 million needed to design and construct the second bridge. ODOT will then pay the contractor back with payments over a fixed period of time.

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