Lake Saint Louis is set to enter a cost-share agreement with the Missouri Department of Transportation [MoDOT] that sets out financing for a proposed roundabout that will replace the existing Interstate 70 interchange at Lake Saint Louis Boulevard.
The city’s Board of Aldermen approved an agreement at its Aug. 20 meeting that stipulates how the project will be funded. Lake Saint Louis is expected to provide a major portion [78.2 percent] of the $2, 250 million project cost, or $1.76 million.
MoDOT would provide $490,000.
The city’s share includes $765,000 in county transportation sales tax revenue awarded to it last year by the St. Charles County Road Board, which makes recommendations on road projects funded by the county’s transportation sales tax.
City officials hope the roundabout will address concerns about the growing traffic at the interchange that serves development along Lake Saint Louis Boulevard and Veteran’s Memorial Parkway and includes the expansion of SSM Health St. Joseph Hospital – Lake Saint Louis.