Missouri Considering Cost-Share Funding for New Turn Lane

To fund a new turning lane off the highway, Missouri is considering splitting funding between the city, the state DOT and the state DOT's cost-share program fund

Missouri aldermen voted unanimously on Tuesday to pursue a "cost-share" funding plan to add a turn lane on Highway 28 between the Highway 19 North intersection and Krausetown Road.

Preston Kramer, area engineer for the Missouri Department of Transportation’s Central District, said the third lane would cost an estimated $998,756. Under the cost-share proposal, the city would pay $449,378, MoDOT would fund $199,751 and the remaining would come from MoDOT's cost-share program fund.

According to the Gasconade County Republican, "the city could either issue bonds or apply to participate in the Missouri Transportation Finance Corporation (MTFC) low-interest loan program, usually at 3 percent interest or less."

(More on MoDOT's planned cost-share funding...)