Construction on an interchange at Powers and Research Parkway could begin next fall if $40 million is allocated for the project.
The project hinges on whether the State Transportation Commission approves the funding.
CDOT also has applied for a federal grant to expand the shoulder of I-25 between South Academy and Fountain Boulevards.
Other CDOT projects could include an expansion of interstate 25 through the city with auxiliary lanes between Fillmore and Garden of the Gods.
