Bedford Redevelopment Commission Rescinds $2 Million Allocation For Water Treatment Project

(BEDFORD) – The Bedford Redevelopment Commission rescinded its $2 Millon allocation towards the wastewater treatment project that is about to get underway.

Under the recommendation of the State Revolving Fund to return the funds back to the Bedford Redevelopment Commission. The bids for the project came in $2 Million lower than expected on the project, and with the rate increases there is plenty of money to fund the project.

The RDC may reallocate the money to other utility projects that are also proposed in the near future which includes Spider Creek and Broadview area projects. The Spider Creek project is expected to cost approximately $4.4 million, and Broadview estimated cost is at $3 million.

The city is looking at some grant funding to help with these other two projects.

The RDC will continue to pay towards the annual Debt reserve reduction on the wastewater treatment project. That payment has also been lowered from $116,000 annually to $111,868 annually to paid over the next five years.

The Bedford Redevelopment Commission also approved to contribute $100,000 to help with the city’s contribution of a 50/50 match for the Community Crossings Grant.

The city has put in a request for a Community Crossing Grant to pave 29th street from State Road 37 to Washington Avenue. The $800,000 estimated cost for paving projects will not be totally funded by the grant.

Bedford Street Commissioner David Flinn has identified areas throughout the city that need paving and repair work on the city’s streets.

The RDC approved a payment of $1,500 to Old National Wealth Management for the Redevelopment Authority Lease Rental 2017 Sinking Fund. In addition, approved $139 payment to Barnes & Thornburg for legal services in reviewing TIF Pledge and use of TIF funds.

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