RALEIGH – The N.C. Department of Transportation announced today it will utilize the services of Mercator Advisors LLC to conduct a review of the I-77 Express Lanes contract. This comes after Secretary Jim Trogdon announced earlier this month that the department would engage a firm to conduct an in-depth, outside review.
Mercator has no previous involvement in the project and has an extensive transportation finance background. The firm provides a wide array of financial consulting services to public agencies that sponsor major infrastructure projects and capital assistance programs. Mercator’s clients include federal, state and local governmental agencies.
N.C. Turnpike Authority staff will facilitate the review process. NCTA was not part of the original I-77 contract negotiations, but can support Mercator’s data and logistical needs.
As part of this review, NCDOT also wants the public to provide input on the issues of greatest concern to them regarding the contract. Feedback, ideas and recommendations can be provided on the I-77 Express Lanes project page on NCDOT’s website. This input will be important in the contract review process.
The final report is expected to be released late this summer.
The estimated cost of the review is $100,000.