The gist: Several big ticket projects could start faster by way of a cash advance paid on an upcoming bond issue. LCG will divert $18 million in general fund dollars to shovel-ready projects and reimburse the payment when a $35 million bond sale is finalized next year.
Not so fast. The cash is available pending authorization by the bond commission in February. The bonds would then be sold a few months later. In other words, the general fund advance shaves off at most a couple of months on project timelines. Still, the quicker start will be welcome on tired projects.
Yes, Kaliste Saloom is on that list. The second phase of the expansion, a $15.4 million leg currently in planning, is ready to go out to bid, according to Public Works Director Mark Dubroc. That phase would complete the stretch south of Ambassador Caffery Parkway by the first quarter of 2022. You can see the full list of projects in the bond program here. Note that not all of these projects will be shovel ready, meaning they may not be eligible for the bond advance.
Shovel ready is in the eye of the beholder. There is $70 million in street projects alone on the bond program list. The University Avenue Corridor improvements, Downtown sidewalks, the fabled Johnston Street pilot project and the N. St. Antoine extension are all included on a slate packed with drainage projects, park improvements and public building upgrades. What gets fast-tracked will depend on what’s ready to go when the money is available come February. Dubroc tells me these projects are “ready to go.”
Kaliste Saloom Road Widening from Ambassador Caffery Parkway to Grand Pointe Apartments
Frem Boustany Extension from Farrel Road to The Vineyard
Dulles Drive Widening from Ambassador Caffery Parkway to Westgate Road
“In general, all projects budgeted this year can and will benefit” from the ready cash, Dubroc says.
Cash advance to speed up Kaliste Saloom expansion and other projects authorized
The gist: Several big ticket projects could start faster by way of a cash advance paid on an upcoming bond issue. LCG will divert $18 million in general fund dollars to shovel-ready projects and reimburse the payment when a $35 million bond sale is finalized next year.
Not so fast. The cash is available pending authorization by the bond commission in February. The bonds would then be sold a few months later. In other words, the general fund advance shaves off at most a couple of months on project timelines. Still, the quicker start will be welcome on tired projects.
Yes, Kaliste Saloom is on that list. The second phase of the expansion, a $15.4 million leg currently in planning, is ready to go out to bid, according to Public Works Director Mark Dubroc. That phase would complete the stretch south of Ambassador Caffery Parkway by the first quarter of 2022. You can see the full list of projects in the bond program here. Note that not all of these projects will be shovel ready, meaning they may not be eligible for the bond advance.
Shovel ready is in the eye of the beholder. There is $70 million in street projects alone on the bond program list. The University Avenue Corridor improvements, Downtown sidewalks, the fabled Johnston Street pilot project and the N. St. Antoine extension are all included on a slate packed with drainage projects, park improvements and public building upgrades. What gets fast-tracked will depend on what’s ready to go when the money is available come February. Dubroc tells me these projects are “ready to go.”
“In general, all projects budgeted this year can and will benefit” from the ready cash, Dubroc says.