P3: $322 million paid to developer so far, advanced payments account for $199 million

The board heard a summary of payments made under the public‑private partnership. "We've paid about $322,000,000 to the developer to date," P3 representative Bakkegard told the board, adding that roughly "$199,000,000" came from Series A advance payments. He said interim completion (ICE) payments and statement‑of‑principles payments accounted for other notable sums and that a $5,000,000 milestone payment was recently triggered by completion of interstate bridges.

Bakkegard described remaining contingency and developer change items and noted the authority maintains a weekly standing committee to review interim completions and advance payments. Board members asked routine questions about payment oversight; staff said those processes would continue and be tracked closely in coming months.