Louisiana State Treasurer Announces State Bond Commission Actions to Provide Funding for Ferry Service and Bridge Work in the State

Louisiana – On November 18, 2022, Louisiana State Treasurer announced that a new ferry service in Cameron Parish and work on 11 structurally‐deficient bridges in six parishes across the state will soon commence thanks to the issuance of debt by the State Bond Commission (SBC).

“It is gratifying to see the actions of the State Bond Commission translate into improvements that will directly benefit the citizens of Louisiana,” said Schroder. “I take my charge as steward of the state’s finances seriously, especially when the SBC and Louisiana Department of Transportation and Development (LADOTD) can work together on behalf of the state in ways that capture significant savings.”

The State Bond Commission authorized the issuing of Deepwater Horizon Economic Damages (BP Settlement) Revenue Bonds in the form of a set of Federal Transportation Infrastructure Finance and Innovation (TIFIA) project loans in July 2019.

A portion of that package of projects will allow the US Department of Transportation (DOT) to give about $38.9 million in low-interest loans to the SBC for the LADOTD to execute bridge improvements and establish the new ferry system in Cameron Parish through its Build America Bureau. The projects are eligible for TIFIA's Rural Project Initiative, which provides loans for up to 49 percent of the project's eligible expenses as well as fixed interest rates half that of the US Treasury.

“This is not only a positive for those who call Cameron Parish home, but for our entire nation that depends on the oil and gas industry housed there,” Schroder said. “Both of these projects aim to ease transportation, connectivity and safety for Louisiana citizens while strengthening the infrastructure of central and south Louisiana.”

The Cameron Parish Ferry Project will get an $18.2 million loan to offer ferry service between the Calcasieu Ship Channel on LA Highway 27 and Cameron and Holly beaches in Cameron Parish.

The LADOTD recently reported that it has received an apparent low proposal for the construction of two new ferry boats for the Cameron crossing from Houmabased ThomaSea Marine Constructors. The awarded bid was $49,706,865.

According to LADOTD, the project scope comprises the design and construction of two vehicle/passenger ferries, each capable of carrying at least 35 autos, six semi-trucks, and 500 passengers. The new ferries will replace the 1964-built M/V Cameron II. Endloading vessels will be used to load and unload large commercial vehicles. Two boats will be built to ensure that ferry service continues while one vessel receives mandatory dry docking in accordance with US Coast Guard standards.

The LADOT expects building on the two new boats to begin early next year, with a completion date of mid-2025. Between fiscal years 2018 and 2021, the Cameron ferry carried an average of 153,500 vehicles and 480 passengers per year.