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Bridge 51 estimate jumps to $8–9 million; county pursues BANs and federal funds
Summary
Consultants raised the Bridge 51 construction estimate from roughly $5 million to about $8 million (near $9 million including inspections). County staff said they are pursuing Bond Anticipation Note (BAN) financing, law-firm advice, and roughly $2.5 million of increased federal support through KIPDA; dam-removal permits expected by end of May.
County staff updated the joint meeting that consultant Stage 3 plans for Bridge 51 show a material cost increase. Nick Creevy said construction costs rose from roughly $5 million to about $8 million and that total construction plus inspections is closer to $9 million. He said staff has contacted Crowe and Barnes & Thornburg about Bond Anticipation Note (BAN) options to finance the gap and is working with KIPDA for additional federal funding; KIPDA has committed roughly $2.5 million toward the project.
Creevy also said consultants are obtaining necessary permits for dam removal with an expectation of receiving them by the end of May. He said the current bridge might be able to reopen sometime in July. Al Knable noted a $200,000 local cost is covered by $150,000 in private donations and $50,000 from the county.
