Project Costs and Funding

The estimated construction cost is approximately $650 million for the HOV alternative and approximately $1.8 billion for Express Lanes. The HOV project funding comes from the traditional Federal, State and Measure I resources. Express Lanes project funding, however, uses those same traditional resources since the system allows for HOV use, as well as toll-revenue bonds and a federal loan. The bonds and loan will be repaid by future revenues generated from use of the Express Lanes.