EDMOND — Work continues on road projects to add turn lanes at 33rd Street and Broadway, Edmond's busiest intersection, and widen Covell Road, west of Interstate 35 to Fairfax Boulevard.
City officials are in the process of issuing up to $15 million in revenue bonds. The bond issue will be for 10 years and will be paid off with revenue from an existing 3/4-cent sales tax approved by voters in 2000 for capital improvement projects.
The projects could cost an estimated $18 million. City officials are working to get federal funding to help with the costs.
33rd Street and Broadway
Design work for improvements at 33rd Street and Broadway is almost completed, City Engineer Steve Manek said.
So far, the city has spent $365,640 on acquiring right of way. City officials are still negotiating with the owner of two other parcels of land that could cost the city more than $100,000, Manek said.
Tom Parker, developer of the Shoppes on Broadway, on the northeast corner of the intersection, gave the city land to be used for improvements.
“The cost of the easements is very expensive right there,” Manek said. “After we get all the easements, we will have to move the utilities. There is a lot of work to do once we get the easements.”
Construction cost is estimated at $6 million. City officials are trying to get an estimated 51 percent of the money to pay for the project through the Transportation Improvement Program administered through the Association of Central Oklahoma Governments. Edmond will be responsible for the rest of the cost.