State Auditor Nicole Galloway today issued the closeout audit of the Strother Interchange Transportation Development District (TDD), located in Lee's Summit. State law requires an audit of a TDD prior to moving forward with dissolution.
The Strother Interchange TDD was established in 2000 by a vote of qualified voters in the district. The TDD was formed for the purpose of acquiring and constructing a new interchange at the intersection of Interstate 470 and Strother Road, as well as a realignment and reconstruction of Strother Road, Independence Avenue and Ralph Powell Road. In 2007, the project was expanded to include construction of additional intersections and infrastructure improvements on Woods Chapel Road, NE Dick Howser Drive and Akin Boulevard.
The project, completed in 2010, was funded by a one-half percent sales tax on all taxable transactions within the boundaries of the district. The bond debt was paid off in May 2017. The audit determined the financial condition of the Strother Interchange TDD was such that the Board of Directors may proceed with abolishment of the district. The complete audit can be found here.