According to MoDOT, Missouri bridges are not fairing well.
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According to MoDOT, Missouri bridges are not fairing well.

Date: September 18, 2008
By: Brenda Martens
State Capitol Bureau

Intro: MoDOT adopted a new plan for reconstructing and caring for Missouri bridges. Brenda Martens has more from Jefferson City.

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OutCue: SOC

In the originally proposed plan, private contractors would receive funding through Wall Street loans which MoDOT would repay over the course of 25 years.

With the lack of confidence in Wall Street these days, obtaining loans with low interest rates is difficult. 

MoDOT says this means repaying private contractors would be too costly.

The new plan will fund the projects through government bonds.  

 

Actuality:  RAHN2.WAV
Run Time: 00:03
Description: We anticipate issuing $700 million  of GARVEE bonds.

The new plan abandons private contractors maintaining the bridges.

The two contracting groups who were previously bidding on the project will each be reimbursed about 2 million dollars for expenses incurred during preliminary inspections.

Reporting from Jefferson City, I'm Brenda Martens. 

 


Intro:   MoDOT has halted a revolutionary plan for bridge construction and upkeep in Missouri. Brenda Martens has more from Jefferson City.  

RunTime:0:37
OutCue: SOC

Under the old plan, one company would have been responsible for repairing or replacing hundreds Missouri bridges in the next 5 years. 

The private contractors would also be responsible for maintenance on those bridges over the next 25 years.  The private contractors would have received loans from Wall Street lenders, but with Wall Street slow downs costs for loans have risen higher than MoDOT can afford to repay.

Pete Rahn, Director of MoDOT, says this will not hinder the final outcome.

Actuality:  RAHN5.WAV

Run Time: 00:07

Description: It just means it's going to require a lot more effort on our part and we're going to have to do everything we can to create competition to keep that cost down.


The new plan will have MoDOT funding the bridge reconstructions through government bonds.

They will also be responsible for maintaining and upkeeping the condition of the bridges.

From Jefferson City, this is Brenda Martens.


Intro: A revolutionary plan to have private contractors build and maintain 802 Missouri bridges was aborted at a MoDOT hearing Thursday. Brenda Martens has more from Jefferson City.

RunTime:0:46
OutCue: SOC

Originally MoDOT planned on selecting one private contracting group to complete the project known as Safe and Sound, but with the recent turmoil on Wall Street, negotiations fell through.

Now MoDOT plans on having multiple contractors bid on groupings comprised of 3 to 20 bridges.

Pete Rahn, Director of MoDOT says that this change will not effect the completion date. 

Actuality:  RAHN3.WAV
Run Time: 00:14
Description: We will have at least 100 bridge under construction by the spring of '09  and that the remaining bridges will have procurements underway so that all 802 bridges are delivered within five years.

Under the new plan, MoDOT will assume responsibility for maintaining the  bridges.

Government bonds will be funding the project.

From the Capitol City, this Brenda Martens.