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Neosho Transportation Development District Forced to Delay Opening Project Bids

Updated:
The Neosho Transportation Development District sees another delay in road improvement projects.


The district is looking for a loan of nearly five million dollars from area banks that would be would be added to a 2.6 million dollar investment by MoDOT to fund improvements to Highway 60 and Kodiak road.


At today's meeting, one voting member was absent, which left group unable to proceed to the next step. Members say four banks, including Southwest Missouri Bank, Community Bank & Trust, Hometown Bank and Arvest Bank have already placed bids.


"Part of what is being submitted in the bid will be any interest rate associated with that and also any transaction cost associated with that. So those are the thing we'll have to wait and see with the banks that participate." says Chairman, Steve Roark.


The period for banks to withdraw or add bids will now go until the group's next meeting on August 19th, where they hope to formally open the bids.


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