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Florence reviews Transportation Improvement District study to speed local road and utility projects
Summary
City staff and consultants presented a study on forming a Transportation Improvement District (TID) that would let Florence and Boone County coordinate and finance transportation and infrastructure work, recommend a five-member board, and identify priority projects including a Mall Road connector and a citywide traffic study.
Florence officials on Monday heard a presentation on a proposed Transportation Improvement District, a special-purpose public entity created under Kentucky law that would let the city and Boone County coordinate, fund and fast-track local transportation and related infrastructure projects.
Consultants and state officials told the council the TID could assemble multiple funding sources, issue revenue bonds, accept state and federal grants and accept private contributions to move projects faster than relying solely on traditional state funding cycles.
Wade Williams, a consultant with the Montrose Group, said the firm drafted a report at the council’s request describing how a TID would operate and what it could and could not do. “This is a way, local control, local funding, along with the state, and you get your projects built and quicker,” said Sal, a former Kentucky state representative who helped draft the enabling legislation. Williams added the…
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