By Tim SchmidtRecord Managing EditorAn economic and market analysis will be the next step to determine if a second Interstate 70 interchange is needed in Warrenton.The city will spend $20,000 to Peckham Guyton Albers and Viets, Inc., an architecture and urban planning services firm, for the first phase of a feasibility study for the proposed project.Aldermen voted 5-0 to approve the expenditure at their Dec. 1 meeting. Ward 3 Alderman Jim Dreyer was absent.The city is hopeful, if funding can be identified, to have an interchange constructed on the western edge near the 191-mile marker. Warrenton will likely be responsible for 100 percent of the cost, unlike a scenario in 2014 when a cost-sharing arrangement between the city and MoDOT was proposed for the estimated $15 million interchange.In the market analysis, PGAV staff assesses the demand and ability of the Warrenton area to absorb additional retail, hotel, office and industrial land uses. In addition, the firm will determine the amount of each use the area may absorb.Ward 2 Alderman Gary Auch believes moving forward with the study is “money well spent.”“One thing we learned from all the work we have done, there is a significant interest in another interchange (at Stracks Church Road),” Auch commented. “It seems to be two camps, but the question is, does the economic piece play into that discussion or is it also a safety issue? What this does is take a systematic look at the economic side to see if this makes sense. I think this is an important piece to start with.”If the study determines a second interchange would be a benefit to the city, additional phases of the feasibility study will be performed. Those will cover a site analysis, marketing materials and revenue analysis.The additional cost would be $48,000 for all three tasks, according to the agreement between PGAV and the city.“I really like the way they broke this down,” Director of Operations/Finance Officer Terri Thorn said. “If it comes back negative, we can choose to stop right there. We have the answer to our question.”PGAV Planners, based in St. Louis, has worked with a number of municipalities and other governments, developers, corporate entities and nonprofit groups. The company has two other divisions, PGAV Architects and PGAV Destinations.Earlier this year, Warrenton hired WM Financial Strategies to identify financing options and Gilmore and Bell, P.C., to provide legal services related to the interchange project.In March 2014, a plan to initiate a transportation development district (TDD) along Interstate 70 using a 1-cent sales tax was defeated after Warrenton residents in the proposed district unanimously voted against it. The city sought the TDD and the sales tax to help secure funding for the second interchange.The special election involved just 13 eligible voters who resided within the proposed TDD district, with only 10 casting ballots.Warrenton