FROM I-29 EAST TO BETHEL ROAD
More than $6.6 million will be coming to the City of Platte City for a Hwy. 92 improvement project, the state has announced.
The $6,667,950 will be used on a project that will increase capacity and make safety improvements on Hwy. 92 from Interstate 29 east to Bethel Road.
The Missouri Highways and Transportation Commission approved the funding of 28 local transportation projects using $75 million in budget stabilization funds under Gov. Mike Parson’s Transportation Cost-Share Program.
State officials say the Missouri Department of Transportation (MoDOT) and Missouri Department of Economic Development (DED) selected the projects with the goal of building partnerships with local entities to deliver road and bridge projects that have the greatest economic benefit to the state.
“Our Transportation Cost-Share program provides an innovative opportunity to leverage public and private investments to strengthen Missouri’s infrastructure and boost workforce development across our state,” said Parson.
“The number of applications demonstrates that these partnerships are not only of great interest but of great benefit to Missourians. While there are many unfunded transportation needs remaining across our state, we’ve come a long way and are committed to doing more.”
Projects awarded include road and bridge projects across the state including urban areas and small towns, all of which support economic development.
MoDOT’s Cost-Share Committee, made up of MoDOT’s chief engineer, chief financial officer, assistant chief engineer, and two director-appointed employees along with DED staff, reviewed 41 applications requesting more than $150.4 million.
Five applications did not meet program guidelines. The committee selected 28 applications to receive the $75 million, which will deliver $176 million in projects.
During the legislative session, the Missouri General Assembly appropriated $75 million to create the governor’s transportation cost-share program, which provides financial assistance to public and private applicants for public road and bridge projects. The program matches up to 50 percent of the construction contract costs for selected projects.
Twenty percent of the funds are set aside for projects that demonstrate economic development. MoDOT and DED worked with project sponsors to determine when projects may generate economic development. The departments may contribute up to 100 percent of the construction contract costs from the 20 percent set aside for these projects.