Highway 14 Funding Options considered 26 Sep 11

The North Mankato City Council will discuss nearly $3.7 million in proposed borrowing to finance the local share of the Highway 14 project today. The council’s meeting last week was postponed a week to crunch numbers and deal with the local impact of bids coming in 31-percent above expecations for the Highway 14 interchange project. North Mankato and Nicollet County are impacted by the higher-than-expected bids because they are obligated to cover about a quarter of the project’s overall cost. The project would include building an interchange at Rockford Road and adding about two miles of four-lane to Highway 14. It was originally expected to cost $18 million, but would now cost nearly $24 million under the lowest bid by three contractors.