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Construction On Plaza Drive South Could Begin In May
Updated March 12, 2015 6:48 AM | Filed under: Transportation
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(BEDFORD) - Work could begin this summer on Plaza Drive South.

The project will extend Plaza Drive, south from 16th Street, past the entrances to McDonald's restaurant and Lowe's Home Improvement store. The new road will extend farther south, then turn west to link with Ind. 37. The east-west section lines up roughly with 23rd Street, which ends farther to the east.

According to Bedford City Planning and Street Director Dan Kirk, bids for the project came in about $1 million under the engineer's original estimate, which means work could begin in May or June. Construction will take about 22 months with the road opening in 2017.

The Times Mail reports that the total projected construction cost, from preliminary engineering fees to final inspection, was estimated at $5.5 million. Of that total, the city will pay roughly $1.4 million, according to paperwork provided by the city. The latest estimates put construction costs at $4.2 million.

The city has to come up with a 10 percent match of the construction cost, or $323,102. In addition, it must pay 20 percent of the inspection fees, which are not to exceed $580,000 -- putting the city's share at $116,000. And Bedford has to pay $66,352 as its share of moving Vectren utility lines. Those three items total $505,454.

The Redevelopment Commission, which also paid for the city's share of Plaza Drive North, agreed to pay the $505,454. The Redevelopment Commission's money comes from improvements made in the city's Tax Increment Financing districts, not from general tax money.

If there are unexpected expenses while constructing the road, federal funds will cover 90 percent of the cost, with the city paying 10 percent, up to the $4.2 million allocated for the work. After that the expenses would be the city's responsibility.

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