Twelve projects were awarded American Recovery and Reinvestment Act stimulus funding by the Missouri Highways and Transportation Commission. The renovation of I-70 in downtown St. Louis at Memorial Drive is one of them. A reported $5 million is what it will cost for the Memorial Drive Resurfacing Project.

Bridge rehabilitation, pavement resurfacing, signals, drainage, lighting, signage and American with Disabilities Act (ADA) upgrades are all work that will be completed on the I-70 outer road, which extends from Washington Avenue to the I-44/55 interchange.

Construction on the Memorial Drive project is expected to begin this month, and should be completed by December of this year. A groundbreaking ceremony is being held by MoDO to kick off construction for the project. The media and the public are invited to attend the opening at 9:30 a.m. on Friday, July 17.

Details regarding the location of the kickoff will soon be announced.

MoDOT Director Pete Rahn stated that the funding was intended to reinvigorate the economy and “put people to work.” He feels they’ve done everything possible from the very beginning to take advantage of stimulus dollars in the recovery act funding to help Missouri’s economy.

According to Rahn, the projects for which MoDOT was able to approve funding will improve the safety and efficiency of Missouri’s transportation system overall.

Strategic planning, and greater competition than before in the construction industry, caused the projects to come in at 19.2 percent under the anticipated budget. That resulted in a savings of more than $17 million for the state.

Rahn is correct. These dollars are intended to boost the economy and put people back to work. Will a six-month project, however, really put people back to work long-term?

In my humble opinion, it may enable existing workers to pay their mortgages for a few more months. It may detour foreclosure for a few for a while. Even if the company awarded the contract hires new workers, will the workers be kept on after the work is done?

If not, and they no longer have an income, the result is all too often foreclosure for those who own real estate. Property values have diminished due to all the foreclosures and vacant real estate. Foreclosures and vacant real estate are often a direct result of job loss.

In order to stabilize the economy, we need people who have long-term employment. This enables homeowners to pay their mortgage payments and put money back into the economy.

With all things being equal, it appears that in order for the economy and real estate values to stabilize, then employment will have to become more stable. Let’s hope we will see that in the very near future.