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Floyd County readies borrowing plan as federal delays threaten Bridge 51 timeline
Summary
Commissioners said federal funding delays for Bridge 51 could increase the county’s share and they are preparing borrowing paperwork so project letting in September is not delayed; county currently has $1 million set aside for the 20% local match.
Commissioner Al Knable told the joint meeting that federal funding for Bridge 51 has been delayed and expressed concern that total project costs could be higher by the time the work is let in September. Knable said the county is responsible for a 20% local match and currently has $1 million set aside for that purpose.
To avoid delaying the project, Knable said he met with a Barnes & Thornburg representative to investigate the county’s borrowing capacity and to prepare necessary paperwork in case an additional $250,000–$500,000 is required when the project is awarded. He also commended road crews and officers for rapid pothole response on the bridge. No formal borrowing decision was made at the Jan. 17 meeting; the discussion centered on ensuring administrative readiness.
