Redevelopment Commission meets Monday to discuss additional overpass expenses
The Columbus Redevelopment Commission meets next week and will address the increased construction estimate for the overpass project into downtown. Those cost estimates have jumped more than $5 million dollars. The city is responsible for half of the cost of the project.
New estimates from INDOT indicate that the project is now expected to cost $35.66 million dollars instead of the previous $30 million estimate. Officials say that the extra expense comes from the state spending more than expected to buy up property for the right-of-way, along with increased construction costs.
The Redevelopment Commission is scheduled to meet Monday, Sept. 16 at City Hall. INDOT says that an estimated $2,662,005 will be needed in order to meet Columbus’ financial commitment to this project. This would put the city’s total contribution to the project at $4,662,065. The remainder of the city’s portion is being covered by contributions from the Cummins Allocation Area, Bartholomew County, L&I Railroad and CSX Railroad.
City officials say they are prepared to fund this additional request by way of the Redevelopment Commissions Central TIF Allocation Area. This expenditure exceeds its commission’s spending authority, so the city council would need to sign off on the proposal.
The city is responsible for half of the cost of the project and has been given help from Bartholomew County, the Louisville & Indiana Railroad and Cummins. When completed, the overpass will lift traffic over the train tracks at State Road 11 and Jonathan Moore Pike.
Monday’s meeting of the Redevelopment Commission begins at 4 p.m. at you are invited.