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Merrillville leaders outline $12 million paving plan, transfer of rights to redevelopment authority
Summary
Council members described a $12 million multi-year paving program funded through a newly formed redevelopment authority and related bond issue, with plans to dedicate town rights-of-way to the authority and use PASER ratings to prioritize work.
MERRILLVILLE, Ind. — Town officials on Tuesday described plans to fund roughly $12 million in paving over the coming year and beyond by using a newly formed Redevelopment Authority (RDA) and related redevelopment commission (RDC) actions to issue bonds.
Councilman Sean Pettit, who is president of the redevelopment commission, told the Town Council the RDA will be used to lease and manage certain assets and that leaders plan to transfer town rights-of-way into the RDA’s control to support future paving projects. “We’re going to dedicate all of the town right of ways into the RDA’s control for future paving,” Pettit said.
Nut graf: The move is intended to create a predictable funding stream for an ongoing pavement maintenance program. Council members said they will…
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