April 2017 br>Fighting the Aftermath of Funding Sweeps
According to a February 22nd article in the Daily Herald, Kane County officials let the next phase of the Longmeadow Parkway to Plote Construction at a cost 25% below engineer estimates.
The County plans to collect tolls on the bridge to repay the $25-30 million in bonds that will fund the project. If construction bids continue coming in lower than the engineering estimates, however, the amount of money issued in bonds could decline, which would ultimately lower the price of the toll, said Carl Schoedel, director of transportation.
Tom Rickert, the county’s deputy transportation director said the county would also consider nixing the toll altogether if it becomes no longer necessary. “We get closer and closer to perhaps looking at other funding options,” he said.
“Skilled workers and responsible contractors give customers and taxpayers the best value for their money,” said Local 150 President-Business Manager James M. Sweeney. “Superior training, safety and experience allow the job to be done right the first time, eliminating unforeseen overruns and minimizing the risk of accidents.”