The environmental phase, completed in September 2016, was funded by $4 million in construction savings from the I-80 Bottleneck project.
With environmental approval, Caltrans is now working on the design for Phase 1 of the interchange. The design work for Phase 1 is being funded through the State Highway Operation and Protection Program (SHOPP). The total cost to design and construct Phase 1 is estimate at $44 million with $22 million coming from the SHOPP and the remaining coming from I-80 Bottleneck project construction savings and local development impact fee programs, including $6 million from the Highway 65 Joint Powers Authority and $3 million from the South Placer Regional Transportation Authority. Phase 1 is currently underfunded by $6 million.
The preliminary cost estimate for the entire interchange, including all four phases, is $450 million. Funding for the overall project is currently being pursued, you can find out more information at keepplacermoving.com.
Currently, $10 million in future developer impact fees has been identified for improvements to the I-80/SR 65 interchange, though the timing for availability of this funding is dependent on development. State and federal discretionary funds – should they come available – will also be pursued.