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Van Buren County reviews $2.015M in grants for Bentonsport bridge, eyes interim financing options
Summary
Conservation director Richard Daugherty told supervisors the Bentonsport Pedestrian Bridge Rehabilitation project has $2,015,000 in reimbursable grants; staff discussed using local-bank interim loans or the secondary roads fund to float front-end costs and set a tentative bid letting for February 2026.
County Conservation Director Richard Daugherty told the board the Bentonsport Pedestrian Bridge Rehabilitation project was awarded $2,015,000 in reimbursable grants from Iowa DOT TAP set-aside funds and State Recreation Trails in 2024. Because grant reimbursements may arrive after project expenditures, Daugherty said he contacted three local banks (1st Iowa State Bank, Libertyville Savings Bank and Pilot Grove Savings Bank) about interim loans; he reported the banks were “willing to donate a lot of the interest” and would otherwise use the prime rate at the time loan documents are signed.
County Engineer Ryne Thornburg said he would check with the county attorney on whether the secondary roads fund balance could be used to float a loan rather than borrowing from local banks. Daugherty said a public hearing will be held prior to any loan being set up; the bid letting is tentatively set for February 2026. The board did not adopt financing at the Jan. 2 meeting; it discussed options to involve local banking while managing county cashflow.
