DALLAS - Oklahoma has identified 100 highway projects across the state that could begin construction as early as March if Congress passes a proposed multibillion-dollar transportation infrastructure stimulus package.
Gary Ridley, director of the Oklahoma Department of Transportation, told state transportation commissioners on Monday that the project list could grow to 130 by the time Congress considers the measure.
"My belief is that we'll have in excess of $800 million to $900 million of projects ready to go," Ridley said. "That will assure us that we would be ready for almost any amount of stimulus package that they might put together."
President-elect Barack Obama said he wanted Congress to have the package ready for him to sign when he is sworn in Jan. 20, but a vote is not expected until mid-February.
Whenever the money becomes available, Ridley said, the state wants to be in a position to award contracts almost immediately.
"The president-elect has made it clear that it will be a matter of use it or lose it," he said. "If states are unable to use it in a timely fashion - get it to contract, get it to work, and actually get dirt moving - other states will take advantage of that."
ODOT and its contractors will complete design work on about 100 construction projects totaling about $850 million by the end of January, according to Ridley.
Road and bridge projects on the accelerated list come from ODOT's eight-year work program and include all the projects that do not require additional right-of-way acquisitions or utility relocations. Ridley said contracts on these projects could be let quickly because they require only minimal environmental clearances.
In December, the Oklahoma Transportation Commission approved spending up to $9 million to hire nine engineering consulting firms to ensure that road projects would be ready to go out for bids quickly if Congress approves the infrastructure stimulus.
"We needed to show Oklahoma could let a contract within an extremely short amount of time," Ridley said at a news conference after the OTC meeting on Monday.
Based on Oklahoma's historical share of 1.55% of federal highway funds to states, Ridley said Obama's proposed infrastructure stimulus effort may not be sufficient to fund all the proposed projects.
"I can't imagine a economic stimulus package that would solve all our problems, but it would certainly help," he said. "Any additional funds would help."
If the state does not receive the full $800 million to $900 million anticipated in the accelerated schedule, Ridley said the money received by ODOT would finance projects scheduled in the first years of the eight-year highway plan, as well as roads and bridges that need additional preparation before actual construction can begin.
If the stimulus package is not adopted, Ridley warned, Oklahoma would have to halt highway contract awards after the OTC meeting in February because available federal funds would run out by March 6.
"It's feast or famine," he said. "If the president approves a package, we'd like to be in a position to get dirt moving and take advantage of those dollars."
Grant anticipation notes issued by ODOT are rated Aa3 by Moody's Investors Service and A-plus by Fitch Ratings.
