MODOT GIVES INITIAL NOD TO INTERCHANGE

An effort to finance and carry out improvements to the Interstate 55-U.S. 61 interchange between Cape Girardeau and Jackson got first round approval from the Missouri Highway and Transportation Commission.

The cities of Cape Girardeau and Jackson and Cape Girardeau County want to form a non-profit transportation corporation that could issue bonds and move construction of the road improvements ahead at the intersection commonly known as center junction.

On Friday, the MoDOT commission placed the issue on its consent agenda and authorized public meetings, the next steps needed to move the project ahead.

"The highway department has every intention of doing this project. This innovative financial is a way to speed that process up," explained Chauncy Buchheit, deputy director of the SEMO Regional Planning Commission. He has helped put together the deal.

"It's not a shoe-in, but it's moving forward," Buchheit said.

Following the public meetings, the highway commission will consider the project again. A decision could be made by the end of the summer.

Under the current plan, the transportation corporation would issue construction bonds and the local governments would pay the up front construction costs and interest. MoDOT would buy back the bonds in the future.

Improvements planned include moving the westbound lanes of U.S. 61 closer to the eastbound lanes and improving turning movements by relocating the I-55 access ramps farther from the interchange.

MoDOT anticipates making improvements to the interchange but not until 2005 and 2006.

Involved in the movement is developer James Drury, who plans to develop the commercial area around the interchange. He has said he plans to develop fast-food restaurants, retail businesses and other stores. Those businesses would generate sales taxes, helping to offset the cost to the local governments.

"We will have to pay some interest on it for a year or two, then we will pay ourselves back with that sales tax," said Gerald Jones, presiding commissioner of Cape Girardeau County.

"We are excited to see the transportation corporation coming together and enabling the project to move forward to the next step of gathering input from people who live and work in the area," said Scott Meyer, district engineer for the Missouri Department of Transportation.

Steve Wilson, Jackson city manager, said the public meeting should be set within 60 days. "We will probably have to go and make a formal presentation to the highway commission after the public meetings," he said. "Then they will approve or disapprove the project. We are still early in the process, but we are moving through the process."

"By forming this corporation, we will solve a safety dilemma existed at center junction for years," Wilson said. "All three entities are committed to trying to rectify an unsafe traffic situation."