The pricetag for the new Interstate 74 bridge and corridor improvements may escalate to $1.4 billion -- more than double the projected cost in 2004 -- before the work is completed.
During the presentation to the Bettendorf City Council last week, Iowa Department of Transportation (IDOT) officials said the overall bridge/corridor work currently is estimated at $767 million, but by 2015 the cost is expected to increase to $1 billion.
Adding in inflation and a contingency amount for unanticipated cost increases between 2015 and when the work is actually completed, the total price for the bridge and highway upgrades could reach $1.4 billion, the IDOT said.
CLICK HERE to view the Iowa Department of Transportation slideshow presentation to Bettendorf City Council December 6, 2011.
In 2004, the initial estimate for replacing the four-lane bridge with a new six-lane structure and upgrading the interstate corridor between 53rd Avenue, Davenport, and Avenue of the Cities, Moline, was pegged at $600 million.
The "basket arch" design of the bridge was selected in 2006 and the project's environmental impact statement was completed in February 2009.
A small part of the project, the recontruction of the Lincoln Road overpass, was completed last year, and work in currently under way on reconfiguration of the 53rd Avenue and I-74 interchange. Right-of-way acquisition also has begun, resulting in a number of displaced buisnesses in downtown Bettendorf.
Provided federal funds are obtained, officials hope work on the bridge could begin in late 2015 with a five-year timeframe for completion. Traffic planners proposed the bridge/corridor upgrade to handle traffic projected in 2025.
Bettendorf alderman approved a memorandum of understanding with the IDOT to be responsible for $7.8 million street, stormwater/sewer, lighting, and recreation trail work in conjunction with the bridge/corridor project.
