Platte City and Parkville, as well as Hunt Midwest, are set to receive funds through the governor’s cost sharing program.
Communities and entities awarded grants through the program were announced last week and include the Cities of Platte City and Parkville, set to receive $6.6 million and $1.7 million , respectively, and Hunt Midwest Real Estate Development, which will receive more than $2.5 million.
Projects are improvements to the Interstate 29 at Mexico City Avenue via Hunt Midwest, Highway 92 capacity and safety improvements through Platte City and the continuation of the Highway 9 reconstruction project in Parkville.
The Missouri Highways and Transportation Commission approved the funding of 28 local transportation projects using $75 million in budget stabilization funds under Governor Mike Parson’s Transportation Cost-Share Program. 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,” Parson said. “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.
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.