NEVADA pacific parkway project awarded $25 million grant
Fernley, NV, August 10, 2022 – The US Department of Transportation awarded the city of Fernley $25 million from the Rebuilding American Infrastructure with Sustainability and Equity (RAISE) discretionary grant program for the Nevada Pacific Parkway (NPP) project. The award, to be managed by the City of Fernley and Mark IV Capital – a privately held real estate firm that owns the 4,314-acre Victory Logistics Industrial Park, will be applied to funding the needed construction of the NPP project. The project includes the completion of the Nevada Pacific Parkway road and bridge which will connect Interstate-80 to US Highway 50.
The project leverages private investments to support safety enhancements and general improvements to existing infrastructure that will immediately spur economic development in northern Nevada. “This RAISE grant represents the largest single grant award in the history of the city,” said Mayor Roy Edgington, “we are very happy to see the Nevada Pacific Parkway project move forward. The city of Fernley recognizes the critical infrastructure enhancements needed for the Victory Logistics Project and Fernley to be successful. In addition to improvements in safety and traffic operations with the connection, this project will be transformative to the local and regional economies.” The city worked with several agencies in applying for the grant including Mark IV Capital, Nevada Department of Transportation, and the grant writing firm, Kalbacher Associates, LLC.
The project began in 2020 as a collaborate effort with the city of Fernley and Mark IV Capital, spearheaded by Mark IV. The funding allows for the complete construction of the project, with a two-year estimated timeline. These grant funds in combination with a local match, provided by Mark IV, will be used to fund the road and bridge elements to the Nevada Pacific Parkway. This road/bridge improvement will enable the city of Fernley to accommodate the expected increase in truck traffic to Victory Logistics. The total cost of the project is $52.4 million. The city of Fernley and Mark IV are committed to completing the project.
The US Department of Transportation RAISE Grants made $2.275 billion available for infrastructure projects that have a significant local and regional impact. Projects were evaluated on safety, environmental sustainability, quality of life, mobility and community connectivity, economic competitiveness and opportunity, state of good repair, innovation, and partnership and collaboration.
www.cityoffernley.org / https://www.facebook.com/CityofFernley/
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