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Two proposed toll roads in western Wake County and Research Triangle Park -- known informally as the Triangle Turnpike -- could begin carrying traffic as soon as fall 2010.
They would be connected by a 2.8-mile segment of Interstate 540 now under construction. With the I-540 link, which also would have a tollbooth, the combined expressway would stretch for 18.8 miles. Cost estimates range from $540 million to $1 billion.
Studies to be completed in the next few months will produce revised forecasts for traffic counts and toll revenues, and for construction costs.
HERE'S THE TIMETABLE TURNPIKE OFFICIALS ARE HOPING FOR:
MAY AND JULY: Draft and final environmental reports expected.
JUNE: Public workshop to be scheduled for RTP road.
SEPTEMBER: General Assembly expected to vote on requested $12 million -- $18 million annual payment to cover gap between toll revenues and project costs.
NOVEMBER: Bond anticipation notes issued to fund purchase of remaining right-of-way.
DECEMBER: First contracts awarded, design work starts.
MAY 2008: Remaining contracts awarded, construction starts.
SUMMER 2008: Revenue bonds issued to fund project.
FALL 2010: Triangle Parkway open to traffic in RTP.
FALL 2011: I-540 portion open to traffic from RTP to Holly Springs.
SOURCE: NC TURNPIKE AUTHORITY (WWW.NCTURNPIKE.ORG)
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