KINGMAN – The formula for funding Kingman’s Interstate 40 Rancho Santa Fe interchange project has evolved. Two of the three funding sources remain the same, but the third has changed according to Mayor Jen Miles, City Manager Ron Foggin and city spokeswoman Colleen Haines.
$20 million from the state remains available for the next four years and the city is committed to providing several million dollars more. It’s the third leg of the funding stool that has been altered.
Sunbelt Development had explored creation of a Community Facilities District wherein benefiting property owners would contribute to project cost. That’s no longer the case.
“The idea of an area wide Facilities District has kind of gone away,” Foggin said. “We’ve just started working through a development agreement with Sunbelt.”
The specific shape it takes remains to be seen, but Miles, Foggin and Haines said conversion to a development agreement transitions the project to a funding model similar to the one Kingman Regional Medical Center is using to build the nearby Kingman Crossing interchange.
Miles said it is possible that use of a development agreement might accelerate the project. She said she hopes an initial proposal can be conveyed to the City before the end of April.
- Dave Hawkins
