Funding Completed for Chesapeake Bay Bridge Tunnel Expansion Project

Daily Press reports, “Funding is now in place for a new $756 million two-lane tunnel that will be built under the Thimble Shoal Channel, west of the Chesapeake Bay Bridge-Tunnel, Gov. Terry McAuliffe announced [on November 15]. The new tunnel will expand capacity and be safer for drivers, as well as improve the region’s quality of life and ability to compete for economic projects, McAuliffe said in the release.” The final funding mix includes a $338.5 million TIFIA bond; a $50 million state infrastructure bank bond; $321.5 million in project revenue bonds; and some CBBT district general fund dollars.