October 25, 2014

Transport program will offer local loans

Gene Meyer
Kansas Reporter
TOPEKA, Kan. – Local Kansas governments will soon be able to tap the state’s $8.2 billion transportation plan for help with local highway projects, the Kansas Department of Transportation said Wednesday.

Department officials announced they are using $25 million of new T-Works transportation funds to reprime a special Transportation Revolving Fund first set up in 2004 to loan cities, counties and other governmental units funds for local road, bridge and other motor transportation projects. The fund originally was planned to provide up to $50 milllion in highway and infrastructure funding, but was suspended halfway to that level in July, 2009, due to revenue reductions to the state highway fund.

Now, T-Works money, raised in part by higher sales taxes the Kansas Legislature voted last spring, will be used to lift that moratorium, Deb Miller, the state’s transportation secretary, said Wednesday.

Basically, when local governments want additional state help financing local highway and infrastructure projects, the $25 million deposited in the revolving fund now will be leveraged, as needed, with another $75 million raised by the Kansas Development Finance Authority bonds to provide up to $100 million in total financing for the local projects.

Cities, counties and other local governments then repay the money with funds they raise through special highway allocations, sales taxes or other locally raised revenue. Based on financing activity that prevailed before the moratorium, the $25 million in new funding should meet local government demands for about five years, said Danielle Martin, a program specialist at the department.

Comments

  1. I will be waiting to see how fast Edgerton, Gardner and the County will be applying for these funds, that all citizens make possible, to take care of BNSF and the Allen Group and other developers here in our part of the state. Pay, pay, pay – you and your children and grandchildren will never stop paying for that project and that is only part of the financial burden to say nothing about the pollution and resulting health issues, medical costs, etc. while you will living smack dab in the middle of a freight corridor.

    Always love how the Republicans whine and whine and whine and blame and blame and blame Obama and the Democrat Party for the spending of money and yet they are the first in line wanting the taxpayer funds for their crony, corrupt corporations, developers and other special interests, especially for projects of this nature – they are the ones who are on the front line demanding this type of money and yet they sit there and blame others when they do spend the money – HYPOCRITES – MAJOR HYPOCRITES.

Comments do not necessarily reflect those of The Gardner News, or staff. By posting, commentators assume all liability. Please contact webmaster to report comments that infringe on copyrights, or are of a profane or libelous nature. Webmaster reserves the right to edit or remove content deemed offensive.


 

Speak Your Mind