BRIDGEWATER — Two of four major projects deemed the “fearsome foursome” were given another push toward the right direction as Town Council members accepted a bond to cover some funding costs.
The four projects include Riverwalk Phase I, Dry River Road, Dylan-Old River-Main, or DORM, and Main Street undergrounding.
Town Manager Jay Litten said the bond was to “primarily cover two of the projects,” that would pertain to Main Street undergrounding and Dry River Road improvements, while including potential cost overruns at Riverwalk.
Improvements for Dry River Road between Old River Road and Cannery Woods Drive include a sidewalk on the west side, bicycle lanes on both sides and drainage improvements that include a new curb, guttering and repaving.
The project is a revenue sharing project with the Virginia Department of Transportation, making the town responsible for 50% of the cost.
The undergrounding includes approximately 1,000 feet of overhead utilities on Main Street between Mount Crawford Avenue and Green Street.
Riverwalk Phase I construction would include a walking path roughly 1,000 feet in length that would run parallel to the North River and connect with Bridgeview Park, Seven Bridges Park and Edgebriar Park.
The town received the best loan proposal from Farmers & Merchants for $1.397 million at 2.49% interest for 10 years, with certain adjustments allowed thereafter, according to Litten.
No funds will be drawn from the bond unless needed for the designated projects, according to the town’s advertisement.
No one spoke during the public hearing.
Council members voted unanimously to accept the bond resolution, with all members present.
Town Council also considered a resolution pertaining to the United States Department of Agriculture’s Rural Business Development Program grant used for a hotel study.
Town Council unanimously voted on a resolution of support regarding the consideration of a hotel feasibility study grant during a meeting in June. According to Litten’s report, the new resolution is largely non-substantive, but obtained useful information.
Litten said the town had been awarded the grant, but the second resolution was to formally accept it.
Council members voted to adopt the resolution and accept the grant, 7-0.