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Rails-to-Trails committee seeks $500,000 bridge loan to start North Brook Trail work
Summary
Rails to Trails reported the North Brook Trail project will be split into two phases after a delayed DEEP grant confirmation; the committee seeks a $500,000 grant-anticipation line of credit to begin Phase 1 (parking, walkway and 200 feet of trail) while awaiting additional grant funds.
The Norfolk Board of Selectmen heard July 1 from Rails to Trails member Matt Riiska, who said the North Brook Trail project is being split into two phases after a Connecticut Department of Energy and Environmental Protection delay in confirming an earlier grant. Riiska said R2T received a $399,000 grant three years ago that DEEP only recently confirmed and that a second $255,000 grant remains pending.
Riiska told the board that Yield Construction submitted the low bid for the full project at $774,000 and that, because of timing and funding uncertainty, R2T proposes starting Phase 1 now: a parking lot, the walkway down to the former railroad bed and about 200 feet of trail. "We would like to apply for a $500,000 line of credit which will be repaid upon receipt of the grant and through the R2T current account," Riiska said, adding that he would approach banks about a grant anticipation note and draft a resolution for approval at a town meeting.
Riiska also said materials and some engineering services will be provided as in-kind donations; he noted that Bob Gilchrest of Allied Engineering and chairman of the R2T Committee has contributed much of the engineering work as an in-kind service. He told the board Yield Construction would like to begin work on Aug. 1 and finish by October if Phase 1 proceeds.
Selectmen Henry Tirrell, Sandy Evans and Leo Colwell told Riiska they were comfortable with him working with banks on the line-of-credit option and said Riiska should keep the board fully informed. No formal town action to borrow funds was taken at the meeting; Riiska said any municipal authorization would be handled through a resolution presented at a town meeting.
The board also voted unanimously to approve related committee appointments earlier in the meeting.
Next steps: Rails to Trails will pursue a grant-anticipation financing option and, if the town authorizes borrowing at a future town meeting, begin Phase 1 work pending coordination of in-kind materials and confirmed bids.
