Missouri Governor Mike Parson recently announced the award of $50 million to twenty projects under the state’s transportation cost-share program (Transportation Projects Selected Under Governor Parson’s Cost-Share Program). The winning projects were chosen by the Missouri Department of Transportation (MoDOT) and Department of Economic Development (DED) with an emphasis on partnering with local entities to develop road and bridge projects with the greatest economic benefit to the state.
“This is an exciting opportunity for Missouri to turn infrastructure investments into workforce investments,” said Governor Parson. “The number of applications shows that these partnerships are not only of great interest but of great benefit to Missourians. It also highlights that many unfunded transportation needs remain in our state.”
During the 2019 legislative session, the Missouri General Assembly funded the Governor’s transportation cost-share program with a $50 million General Revenue appropriation. The program offers financial assistance to both public and private road and bridge projects, including matching as much as fifty percent of construction costs.
MoDOT’s Cost-Share Committee, consisting of its Chief Engineer, Chief Financial Officer, Assistant Chief Engineer, and other MoDOT and DED staff, evaluated 48 applications seeking over $92 million in funding for projects totaling $321 million. The twenty projects selected for funding by the committee will receive $50 million from the state and create $131 million in project costs once approved by the Missouri Highways and Transportation Commission in January of 2020.
The applications for funding were prioritized according to the following criteria:
- Economic Impact
- Applicant’s Share of Total Project Costs
- Transportation Need (including impacts to the state highway system)
- Public Benefit
The transportation cost-share program allocates ten percent of its funds for projects that demonstrate an ability to generate economic development for the state. The ten percent can be used by MoDOT and DED to provide up to 100 percent of the construction costs for these projects.
Awards funded under the cost-share program include a wide variety of projects supporting economic development, from urban roadway improvements to local community projects. To review the complete list of selected projects, please visit Transportation Cost-Share Program Selected Projects.pdf.
Governor Parson has demonstrated a strong commitment to funding road and bridge projects, encouraging transportation safety, and promoting economic development for the state of Missouri. If you or a loved one have been injured in a transportation accident, please contact Shamberg, Johnson & Bergman for a free consultation. We will only receive a fee in the event of a successful resolution of your case.