New Transit Center Project Rolling Along
Council Issues Up To $8.1M In Bonds
Posted: November 30, 2012
HARRISONBURG — As groundbreaking for Harrisonburg’s new transit center nears, City Council advanced the project this week by issuing up to $8.1 million in bonds.
The panel selected Union First Market Bank to finance the bonds at a 2.2 percent fixed-interest rate over the next 15 years. The bonds cover the city’s commitment to the roughly $14 million project, which has received nearly $7 million in federal and state grants.
Once the project is completed, the Harrisonburg Department of Public Transportation will have new headquarters at its current city-owned, 13-acre site at East Washington and Vine streets.
The transit center will feature separate administrative and maintenance buildings, a fueling station, service and wash bays and more efficient lighting.
On Thursday, Transportation Department Director Reggie Smith said Shockey and Sons Inc. of Winchester is “not too far from starting” on construction. Trailers have been on-site for several weeks in preparation of moving dirt, he said.
The project should be finished within 18 months of the start date.
Contact Preston Knight at 574-6272 or firstname.lastname@example.org