Looking at the documents on the City's page, it seems that a roundabout and/or ring-road was considered at some point, but never made it to the short list of options.
A Roundabout might work well for traffic flow, but maybe they didn't feel it addressed some of the other concerns that relate to creating a "downtown" area there. If it was only about traffic flow, then leaving it in its current configuration would probably be best.
-Vic
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