TCRIC Quarterly Report: January 2018
January 31, 2018, 6:00pm
The Tuscaloosa County Road Improvement Commission (TCRIC or Commission) has received monthly deposits from tax revenue collections since September 2016, with a current cash-on-hand balance of approximately $6,100,000.00. The Commission identified in its October 2017 Quarterly Report that it expected to engage in some form of borrowing in the following six months to accommodate an influx of priority projects that will be prepared for letting. The Commission still anticipates borrowing in the coming months, but has not finalized the details or mechanism of such borrowing. The Commission will continue to pursue any and all available local, state, and federal funding mechanisms for priority project completion.
- Improvements at the intersection of US-82/McFarland and Bear Creek Cutoff Road previously funded by the Commission are nearing the end of active construction with anticipated completion in the next 45-60 days, after which the Commission will repay Tuscaloosa County for its $2,500,000 contribution to the project, totaling $3.3M in payments by the TCRIC towards its obligation under the Commission’s joint funding agreement for road improvements projects with the Alabama Department of Transportation (ALDOT). Road signage at the site identifies the joint ALDOT-TCRIC project.
- Monthly reimbursement payments of $200,000 to the City of Northport for the Mitt Lary Road improvements have continued, totaling $2,600,000 to date.
- Priority projects at SR-69 North and Union Chapel Road continues in the right-of-way acquisition process, and the SR-69 North and Martin Road has begun utility work to prepare for construction. Road signage identifying an ALDOT-TCRIC project has also been placed at the Martin Road site.
- The major project at the intersection of SR-69 South and Skyland Blvd. is approaching the completion of preliminary engineering and is currently projected to cost $65,000,000 and let in summer 2018.
- The project at the University Boulevard interchange on US-82 being completed by ALDOT is projected to let in summer 2018. The project will be funded by ATRIP funds held by ALDOT in furtherance of its obligations under the TCRIC-ALDOT joint funding agreement.
- The project at US-82 & Hargrove Road being completed by the City of Tuscaloosa has been permitted through ALDOT and is anticipated to let in the first quarter of 2018.
Other priority projects in which the Commission is actively engaged are continuing to progress under the leadership of the Cities of Northport and Tuscaloosa, Tuscaloosa County, and the Alabama Department of Transportation. The Commission’s website has also been updated to include projected project schedules and design maps for existing priority projects.