Maplecrest extension cost swells to $55M
County Council plans economic impact study to find if it's worthwhile
"About $2.5 million has already been spent on plans, land and other preparation — without one drop of concrete being poured.$55 million of public money to build a 1.5 mile road on the fringe of the city
Now soaring cost estimates and doubts about its usefulness are causing some officials to question whether the most expensive 1.5 miles of road in Allen County history should be built at all."
"Congress awarded about $9 million to the project in 2005, but construction estimates that have increased from $21.2 million in 1996 to nearly $55 million have caused several council members to question whether the project’s benefits would justify its expense — which they fear could affect the construction and maintenance of other roads and bridges."
"In addition to the money already pledged by Congress, commissioners propose using vehicle taxes, the county’s major bridge fund and funds generated by a tax incremental financing district (TIF) — which would divert taxes from new development in the area — to pay for the project. But a TIF generates money only if development actually happens, and even then the available dollars would be millions short of the needed amount. That’s why the county said it may hire a lobbyist — at about $5,000 per month — to seek another $8 million or so from Congress."
$65 million of public money leveraged to $125 million to build a ballpark, hotel, condos, retail, and a parking garage downtown
"“This is a roll of the dice, based on questionable data,” Moss said. “The public’s appetite for projects like this (after Harrison Square) is fairly low.”"I would hope that most people would have a low appetite for 1.5 mile roads that cost $55 million.
Would the public's appetite have been whetted in the absence of Harrison Square?
It's still $55 million for a hop across the Maumee.