Senator’s Bill Would Help Fund Major Road Projects
ST. PAUL — St. Cloud Senator John Pederson has authored a bill that would get some major, high-priced road construction projects done sooner.
The legislation would allow public/private partnerships to get the project done, then allow for a temporary toll to pay back the private portion of the funding. Pederson says once the agree-upon rate of return was met, the toll would go away and the road would be turned back to the state of Minnesota.
The main pilot project Pederson has identified is a high-speed I-94/Highway 10 connection south of Clearwater. Pederson says even though this project has been in the pipeline for years, the $242-million cost has been prohibitive.
Pederson says this legislation is a way to get these major projects done sooner.
The bill is awaiting a floor vote as part of the transportation omnibus bill in the Senate. A similar bill in the house is sitting idle.