Morteza Farajian, Build America Bureau executive director, and Kansas City Mayor Quinton Lucas, recently signed an emerging projects agreement to finance infrastructure improvements in Kansas City, Mo.
Under the agreement, the city and the bureau will explore opportunities for innovative project planning, procurement, financing, and delivery. Options include technical assistance grants and low-interest rate financing such as private activity bonds, Transportation Infrastructure Finance and Innovation Act loans, and Railroad Rehabilitation and Improvement Financing.
“This agreement formalizes our collaborative effort to explore innovative approaches and best practices with Kansas City’s officials,” Farajian said. “We have formed a strong partnership to deliver this program effectively and efficiently. Together, we will advance these critical projects in innovative and sustainable ways so we can ensure the continued mobility and economic health of this thriving community.”
Kansas City has a network of projects totaling more than $15 billion that would improve connectivity, safety mobility, and equity throughout the region.
Projects that could benefit from the agreement include:
The construction of a $314 million urban park at Interstate 670 to add green space and remove the divide created by the highway.
A $147 million project to repair and replace bridges.
The $123 million Blue River Watershed safety and connectivity improvements.