I checked and Section 106 does apply to this project. So it cannot be demolished without first considering feasible and prudent alternatives to demolition.
The Texas Department of Transportation (TXDOT) has funded replacement of this bridge, apparently by ca 2016. It is deemed structurally inadequate and is inadequate for the existing traffic. It has no room for the existing two lane traffic and bicycle and/or pedestrian traffic.
The future of the existing bridge is unknown at this point. The options now appear to be: (1) Removal of the existing structure and replacement with bridge(s) with two lanes inbound and two lanes outbound. (2) As in (1), but with retention of the existing bridge as a hike and bike trail. (3) Retention of the existing bridge as two lanes either inbound or outbound with a hike and bike lane and construction of a new bridge for two inbound or outbound lanes.
Acquisition of funding for retention of the existing bridge will largely be the responsibility of the city of Columbus.
This listing duplicates http://bridgehunter.com/tx/colorado/bh49391/
I wish I had your faith Nathan about reasonable and prudence in regard to Section 106. Mostly I see the opposite, how to get through the process in the least amount of time to get the outcome originally desired by paid staffers.