|
|
|
Neosho Daily News - Neosho, MO
  • TDD banking decision delayed due to lack of quorum

    • email print
      Comment
  • Hoping to make a big announcement Thursday that financing had been obtained and the real work toward getting new roads constructed could proceed, the Neosho Transportation Development District (TDD) board of directors must wait another week and a half to make that pronouncement.
    The board met Thursday to open bids from four local banks to either individually or collectively provide the almost $5 million needed by the TDD to fund the development of a roadway system on both the north and south of U.S. 60, and east of Interstate 49. The Missouri Department of Transportation (MoDOT) will provide about $2.6 million for the project.
    Instead of opening the bids from Arvest Bank, Hometown Bank, Southwest Missouri Bank and Community Bank & Trust, Steve Roark, TDD chairman, said that will have to wait until Tuesday, Aug. 19.
    Roark explained, “Frank Adams is not here. Ray Stipp and Jeff Maxwell, Ray with CBT and Jeff with Southwest Missouri Bank, are conflicted, so they can’t vote on that, and we don’t know where Frank is, so we will not be able to do anything today.”
    With Adams not in attendance and two board members with a conflict of interest to vote on the issue, Roark advised that no quorum was available to conduct that business.
    Roark indicated that the delay will not harm the TDD’s efforts to get the first phase of construction completed next year. He stated previously that the goal is to have a financing plan in place to take to MoDOT by Sept. 15 so that the department can let bids on the project this fall. Roark said that would allow construction to begin in Spring 2015.
    Roark thanked MoDOT for its direction and cooperation.
    “I can’t imagine that they could do any more to get us to this point,” he said.
    Roark said they have shown much trust in the TDD, which in turn has had a lot of trust for MoDOT through this process.

        calendar