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Turnpike Bond Proceeds Provide Funding Boost for Ohio Road Projects

Monday, July 22, 2013 at 5:53 PM

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Gov. John Kasich discussed the transportation funding plan at the Orlando Baking Company in Cleveland.

Governor John Kasich has disclosed more details about his plan to use money from Ohio Turnpike bonds to fund transportation projects around the state. Ideastream’s Michelle Kanu reports the plan will provide a boost for Cleveland’s long awaited Opportunity Corridor Project.

The plan to connect Cleveland’s University Circle neighborhood to interstate 490 – a project known as Opportunity Corridor - has been slow to move forward in part because officials didn’t have enough money.

Addressing a group of reporters at the Orlando Baking Company in Cleveland, Governor Kasich said the sale of Turnpike bonds will help expedite this and 40 other road construction projects that have been delayed for years.

Kasich: “Cuyahoga county Cleveland inner belt—nine years.  Cuyahoga County I-77-nine years.  Cuyahoga County I-271—eleven years.  Cuyahoga Opportunity Corridor, 13 years.  Lorain County US Route 20—ten years.”

Several projects in Franklin, Hamilton, Lucas and Medina County will also get some of the funds.

Earlier this year, lawmakers gave Kasich the green light to sell the bonds, which are backed by Ohio Turnpike toll fees.  Kasich says spending the money on constructing roads and bridges will put people to work—and help them get there.

Kasich: “Infrastructure development means more productivity which means more economic success.”

The plan includes a total of $3 billion dollars and must be approved by the state’s independent Transportation Review Advisory Council.  The group is set to vote on Thursday.

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Economy, Regional Economy/Business - News, Government/Politics, Transportation

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