TCRIC Quarterly Report: October 2017
October 30, 2017, 10:25am
The Tuscaloosa County Road Improvement has received monthly deposits from tax revenue collections since September 2016, with a current cash-on-hand balance of approximately $4,400,000.00. The Commission expects to engage in some form of borrowing in the next six months to accommodate an influx of priority projects that will be prepared for letting. The Commission will continue to pursue any and all available local, state, and federal funding mechanisms for priority project completion.
Monthly reimbursement payments of $200,000 to the City of Northport for the Mitt Lary Road improvements have continued, totaling $2,000,000 to date. Intersection improvements at US-82/McFarland and Bear Creek Cutoff Road previously funded by the Commission are nearing the end of active construction with anticipated completion in winter 2017, after which the Commission will repay Tuscaloosa County for its $2,500,000 contribution to the project. Priority projects at SR-69 North and Union Chapel Road and SR-69 North and Martin Road are both in right-of-way acquisition. The major project at the intersection of SR-69 South and Skyland Blvd. is progressing in plan development and is currently projected to cost $65,000,000 and let in summer 2018. Other priority projects in which the Commission is actively engaged are continuing to progress under the leadership of the Cities of Northport and Tuscaloosa, Tuscaloosa County, and the Alabama Department of Transportation. The Commission has approved funding for signage at Commission-funded project sites, and the first signs are expected to be in place in the coming quarter. The Commission’s website has also been updated to include projected project schedules and design maps for existing priority projects.