In order to secure a vital route that would lead customers to its future developments, the Copperas Cove Economic Development Corporation dedicated $1.1 million to help fund the long-awaited Southeast Bypass Thursday.
The EDC board approved the resolution as a guarantee that an overpass at Old Copperas Cove Road would be included in the U.S. Highway 190 Southeast Bypass, which is in the process of being scaled back from the original $55 million price tag by the city and the Texas Department of Transportation's Waco district.
The Texas Transportation Commission approved a list of 11 projects to be funded by TxDOT's pass-through finance program at a meeting June 24.
Copperas Cove's bypass was not on the list — meaning the city would have to find a way to pay for the project itself.
About $28 million was taken from the bypass budget line in the recently approved 2011 city capital improvements plan to reflect the $45 million price that City Manager Andrea Gardner said was the current figure given by TxDOT.
"That reduction in cost did not include leaving that overpass in at Old Copperas Cove Road as a guarantee in the let of the contract," she said. "They were planning to put out the bid specs with that overpass as an alternate bid, meaning they could add it if the bid came in at, say, $42 million and there is enough to add the overpass."
The EDC committed $1.1 million to cover the cost of the overpass, ensuring that the overpass would remain part of the plan — which would serve as an access point to the future $13 million upscale housing development Constitution Court and the Shops at Five Hills development.
"We have funds that we could commit to that under our capital improvements plan line item," said EDC Executive Director Polo Enriquez. "If it's not able to come together, this is an option. It would be specific to the overpass at Old Copperas Cove Road, which is a critical piece to us."
Enriquez said if an alternative funding source can cover the cost to include all the interchanges of the original plan, the EDC's promised contribution would not be used.
Gardner said she expects some final decisions to be made at a meeting with TTC on Sept. 20 or shortly after.
"Then we expect to have the contract after the first of the calendar year and possibly begin construction by next summer," she said.
Posted On: Thursday, Sep. 9 2010 02:07 PM
By Taylor Short
The Cove Herald
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