A Very Expensive Project
The proponents of Longmeadow Parkway have seemed evasive when discussing the cost of the project. They talk about numbers around $100 million, but are never very specific. When we requested KDOT’s financial plan for the project we were told they did not have a plan.
Our curiosity aroused, we set out to tie down the best estimate of the true, total cost of Longmeadow Parkway. We found that the project will cost about double what the County has been saying. Our estimate and the sources of our information are shown in the following table. We show only the costs associated with building the project. Costs of maintaining the road, bridge and tolling facilities are not included.
The cost of interest on bonds over a period of 30 years is very significant ($47 million). The actual number may vary, up or down, from what we show in the table depending on the size of the bond issue, its interest rate and maturity. It will be interesting to see KDOT’s actual financial plan, assuming they ever produce one.