Protecting and Promoting Your Interests

MDOT Sells First Round of Bonds


Last week MDOT sold their first rounds of bonds that will cover the cost of rebuilding some of Michigan’s most highly traveled freeways, including the $60 million I-496 project in Lansing.

MDOT has reported that when all of the $3.5 billion bonds are sold over the next few years, they will finance or help accelerate rebuilding or major improvements of 122 major highways across the state.

Prior to the sale of the bonds, MDOTs 5-year road and bridge program was to be about $3.5 billion (roughly $700 million per year).  However, after the sale MDOTs 5-year road and bridge program will be about $7 billion (roughly $1.4 billion per year).  Basically, MDOTs road and bridge program will double over the next 5 years. 

However, to help alleviate some of the pressure to the construction industry, MDOT has mentioned that they are working on letting the majority of their projects in August, September, October, November and December.  They will also entertain requests from contractors to work later in the season and begin earlier in the season if the weather is favorable.

To view the MDOT press release regarding the selling of the bonds click here.

If you have any questions, please contact the MAA office at (517) 381-1732