Sept. 6. By Dave Vieser. The Cornelius Town Board will borrow $2 million to finance the construction of a new public works facility. The vote was unanimous, and Garanco Construction of Pilot Mountain has already been selected to perform the work.
The town issued an RFP last month to borrow $2 million to fund the new facility, said the town’s finance director Julie Niswonger. The town received responses from three banks and BB&T Bank’s interest rate of 2.03% for 7 years was the lowest.” Niswonger also advised the commissioners that the loan can be repaid early if they so desire without penalty.
Construction of the facility on Starcreek Drive should start in September and is expected to take 8-9 months.
In other action, the town board:
+Received an explanation of the DOT’s feasibility study on ramp signals for Exits 28 and 30 on I-77 from Scott Cole, an engineer from the state’s highway division. Ramp signals are red and green lights linked with a signal controller that regulates the flow of traffic entering interstate highways according to traffic conditions. Under questioning, Cole admitted that installing ramp signals for northbound traffic entering I-77 at Exit 28 would back up traffic on the DDI and an extension of the Exit 28 entrance ramp would probably be required. Cole also emphasized that the study was for feasibility purposes only and that the DOT has no budget at the moment to actually install the ramp signals.
++Appointed Karen Tovar to fill a vacancy on the town’s Land Development Code Advisory Board. The appointment runs through September 2018.
+++Set Monday Oct. 2 for a public hearing on a request by Bluestream Partners to annex 51.48 acres of property located on the northeast corner of Bailey Road and Barnhardt Road, in association with the Forest at Bailey’s Glen II, Phase 2 development.
