City leaders have given initial approval to create a fund for an estimated $30 million railroad overpass at the State Road 46/State Road 11 intersection.
The city is proposing to create a non-reverting fund for the overpass, meaning any money within the fund can only be used for the project. Establishment of the fund would make it easier for the city to keep track of the money designated for the project since it is being funded by different sources, said Jamie Brinegar, finance director for the city.
Plans for the proposed overpass were announced earlier this month during a joint news conference at the Cummins Inc. corporate headquarters in Columbus, where Gov. Eric Holcomb announced that the project has been accepted by the Indiana Department of Transportation.
For more on this story, see Thursday’s Republic.