Dive summary:

Interstate 15 in downtown Las Vegas needs an upgrade, with 250,000 cars on it each day now and projections for that to double, but there is no way the state could finance the work in a timely fashion.

The state's solution is a $1.8 billion, 3.7-mile project using a public-private partnetrship in which several companies working together as The Neon Group (it is known as Project Neon) will get the work done in three years and operate and maintain the road for 35 years while the state pays them out of ongoing fuel-tax revenues.

Frank Martin, a member of the state transportation board, said the arrangement was the only way to get the work done because going to the bond market for the project would have sucked up so much of Nevada's borrowing capacity that other projects in the state would not get done.

From the article:
The five-phase project will reduce traffic weaving, improve safety and cut congestion-related crashes. ...