Oak Creek - The Common Council on Thursday scheduled a special meeting for 6 p.m. Monday to discuss the city's financial commitment to a possible I-94 interchange at Drexel Ave.
The council has already adopted a resolution pledging $3.75 million in city money. At time, that was equal to 25% of the $15 million that the state Department of Transportation estimated the interchange would cost.
The DOT, however, requires 50% in local money to build an interchange.
Recently, however, the DOT reduced its cost estimate to $12.9 million and Northwestern Mutual Life Insurance, which has a large office complex in Franklin, has pledged $1.6 million toward the interchange cost.
The City of Franklin has not pledged any money to the proposed interchange, although it has said it would cover $500,000 in lighting on the Franklin side of S. 27th St. That would normally be the responsibility of the DOT.
A new resolution to be considered at Monday's special meeting would commit Oak Creek to the same $3.75 million it previously pledged for the interchange, plus $650,000 in lighting for Drexel Ave. and S. 27th St. and related utility costs.
The resolution was to have been considered at the council's regular meeting Tuesday, but the discussion was postponed.
The Franklin Common Council said this week it is open to further negotiations on a Drexel interchange.