Roads to Progress Paved with Intentions
Three proposed area roads – the U.S. Highway 412 bypass, the Northwest Arkansas Regional Airport (XNA) access road and the Bella Vista bypass – are either up in the air or awaiting legislation from Missouri: r
There are preferred routes at both ends and at least four middle routes in consideration. With that much left in doubt, however, it’s still not clear when the project might start, although the tab is expected to exceed $200 million.r
“We’ve put all of our work on hold pending their moving forward on their project,” said Scott Van Laningham, executive director and CEO of the Northwest Arkansas Regional Airport Authority.r
Van Laningham said that the latest cost estimates for a road connecting Interstate 540 and the airport was $45 million.r
An investment grade study by HNTB Corp. of Kansas City to determine the feasibility of using tolls found “that a third-party [bond backer] isn’t a very attractive option,” Ort said.r
Without the backing of the states, the bonds would have a lower rating and higher interest rates. The study said if Missouri changes its laws, the bonding capacity for the project will be $130 million-$140 million, with a projected building cost of $190 million-$200 million for both states. r