Posted: Jul 12, 2012 4:13 PM by Molly Balkenbush
Updated: Jul 12, 2012 7:22 PM
JEFFERSON CITY - MoDOT's transportation project budget lost 40 percent of its funds for fiscal years 2013-2017 Wednesday in a vote by the Missouri Highway Commission. In previous years, MoDOT had $1.2 billion for projects for other five year periods, which has now been reduced to $700 million.
David Silvester, central district engineer, said the cut in funds means MoDOT will have to make some changes. He said MoDOT will put off hiring many employees for large road construction projects that will no longer exist. MoDOT will also close more than 130 locations statewide. Silvester said the agency will also close work areas such as sheds and buildings around the state to save money.
Silvester said the loss of funds will not affect the budget that works with repairing roads, but rather will hurt the opportunity to build new roads. He said the price of asphalt has gone up while the money MoDOT is receiving from gas taxes has gone down, causing a direct loss in funds.