UPDATE: Waterloo voting to take over ownership of University Ave - KWWL - Eastern Iowa Breaking News, Weather, Closings

UPDATE: Waterloo voting to take over ownership of University Avenue in the city

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WATERLOO (KWWL) -

UPDATE: Waterloo Mayor Quentin Hart says he is excited about the city taking ownership of University Avenue. He says the city needed this in order to grow.

He says, "It will be a fantastic project that our kids will look at 10-15 years from now and say we are proud that we decided to move forward now."

Some local businesses agree, repairs are needed.

Owner of Maple Lanes Rich Eighme says, "University Avenue feeds our business here so I think a road of strong repair and good working shape benefits us all."

The city will get $18 million from the state this year and $5 million more in 2017 and then in 2018.

Hart says,"We will have to watch our spending of course, but we want to make sure this area looks good along with our partner city of Cedar Falls."

Will Waterloo follow Cedar Falls' lead by adding roundabouts to University Avenue?

Mayor Hart replies, "Roundabout are not currently part of our project. I think we have different needs than Cedar Falls. We have three bridges within our stretch and not as many businesses and other more open areas. I don't necessarily think that's conducive to where we are headed."

Before the planning begins, the Iowa DOT still needs to approve the final agreement with the city. That vote is expected to come within the next few months.

Mayor Hart says there will be planning and community meetings in the future, so people can give their inputs on what they would like to see for Waterloo's University Avenue.

Updated by: Lauren Moss

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Waterloo City Council voting unanimously Monday to take over the responsibility of University Avenue within the city limits.

University Avenue also known as Highway 934 has been maintained by Iowa DOT in the past.

Monday, the city council accepted the offer from the Iowa DOT to transfer the road to the city, giving the city $28 million over three years.

The city originally expected to get more for the road, but believe it is still a strong investment for the city.

Mayor Quentin Hart said he would not deny there may have to be additional funding for future work to the road.

"If you take a look at the return on the investment in the long run, hopefully, that is going to help generate dollars for our tax base. Hopefully, that will make for a smooth transition between our sister city to Downtown Waterloo," said Mayor Hart.

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