LANSING – Today MDOT Director Kirk Steudle approved an SIB loan that was requested by the Genesee County Road Commission for Miller Road. The Genesee County Road Commission will receive a $1,175,000 State Infrastructure Bank (SIB) loan to finance the reconstruction of Miller Road from Lansing Highway to Van Vleet Road in Gaines Township. The loan will be repaid over five years with local road funds.
"This great news couldn't have come at a better time," said Rep. Lee Gonzales (D-Flint Township). "Improving our infrastructure and investing in our community needs to be a priority to bring good-paying jobs to Genesee County, making it a place where families and companies want to invest their time and money. I applaud Manager-Director John Daly and the Genesee County Road Commission for their due diligence in finding alternative funding to develop Miller Road."
Miller Road is badly deteriorated and beyond routine maintenance. The project will significantly reduce the costs presently required to maintain the existing surface and will improve the safety and efficiency of the roadway. With federal funding already committed to the county portions of Miller Road between Flint and Swartz Creek, the SIB loan will provide the financial resource to complete the corridor improvements west of Swartz Creek. Construction is expected to begin in late spring 2008.
The State Infrastructure Bank (SIB) of Michigan provides loans for publicly-owned transportation infrastructure projects. The Michigan Department of Transportation (MDOT) established the limited loan program to attract new public and private transportation investment and to accelerate the delivery of critical transportation improvements.