MEMORANDUM
TO:
Finance and Administration Committee Executive Director Bruce Gartner
FROM:
SUBJECT:
Key Bridge Authorizations, Expenditures, and Reimbursements
DATE:
August 14, 2025
PURPOSE OF MEMORANDUM To provide the Finance and Administration Committee with an update regarding Francis Scott Key (Key) Bridge Rebuild funding authorizations, expenditures, and reimbursements. KEY TAKEAWAYS • So far, the Maryland Transportation Authority (MDTA) Board has authorized $421 million in funding for the construction of the Key Bridge Rebuild. • Based on preliminary closeout figures, as of June 30, 2025, $147.9 million in State Funds (MDTA and State Highway Administration) were spent for the Key Bridge Rebuild Project. This includes costs for the initial salvage and debris removal efforts, as well as the permanent rebuilding of the Key Bridge. Except for certain ineligible project costs, these costs are expected to be covered by insurance proceeds, offsetting revenue (material recycling), or federal funds. • To date, a total of $60 million in Federal Highway Administration (FHWA) Quick Release Emergency Relief (ER) funds have been made available to the project. Of the $60 million in FHWA ER funds, $20.7 million has been used to reimburse federally eligible project costs. Additionally, $25 million in eligible salvage and debris project costs have been applied toward insurance proceeds. There are currently $33.3 million in expenses under review for FHWA ER funding eligibility and $42.4 million in expenses under review for insurance proceeds and recycling revenue eligibility.
2310 Broening Highway • Baltimore, MD 21224 • mdta@mdta.maryland.gov • 410.537.1000 • 711 (MD Relay) • mdta.maryland.gov • DriveEzMD.com
Made with FlippingBook Digital Proposal Creator