12-Mile Stretch of I-40 to Be Repaved
Posted August 3, 2007
Raleigh, N.C. — The North Carolina Board of Transportation on Thursday approved millions of dollars to repave a 12.9-mile stretch of Interstate 40 in Wake County.
S.T. Wooten Corp, of Wilson, will work for about a year on the portion of roadway that runs from Wade Avenue (mile marker 289) to Jones Sausage Road (mile marker 303).
Work could begin as early as Sept. 4 and will involve some nights and some weekends, the
The project will involve repairing select concrete slabs along the highway as well as milling the asphalt sections. An asphalt overlay will then be applied to the entire project.
The contract will be funded through the use of Grant Anticipation Revenue Vehicles, commonly referred to as GARVEE bonds. GARVEE bonds allow the acceleration of federal funding to help finance projects sooner and avoid cost increases due to construction inflation.
They were authorized by the North Carolina General Assembly in 2005 and will be issued by the Office of the State Treasurer.