Finance Committee reviews revenue bond for Carraway Road project amid rising costs

In a recent meeting of the Jonesboro Finance & Administration Council Committee, significant discussions centered around the capital improvement bonding process, particularly in light of rising development costs. The committee is preparing for a public hearing regarding a revenue bond, which is essential for funding various capital improvement projects in the city.

The council emphasized the importance of community engagement in the upcoming public hearing scheduled for May 20. Members were encouraged to consider what they would like to see addressed during this meeting, highlighting the collaborative nature of the process.

A key focus of the discussion was the Carraway Road project, which is projected to undergo significant upgrades. The proposed improvements include expanding the road to a five-lane cross-section for a quarter-mile stretch to Laderette Drive, transitioning to a three-lane configuration towards Glen Place. This project is crucial for managing increased traffic flow and enhancing pedestrian safety in the area, particularly with plans for a ten-mile multi-use trailway along the west side of the road.

The Arkansas Department of Transportation (RDOT) has allocated approximately $30 million for capital improvements in the region, with Carraway Road and Southwest Drive identified as top priorities. The estimated cost for the Carraway Road project alone ranges between $5 million and $5.5 million, reflecting the rising costs of construction materials and labor.

The meeting underscored the urgency of addressing these infrastructure needs as the city continues to grow. The council's proactive approach in seeking community input and adjusting project estimates demonstrates a commitment to transparency and effective governance. As the public hearing approaches, the council will be looking to finalize details and ensure that the community's needs are met through these vital improvements.