Officials approved procuring a $340,000 fixed-rate, five-year installment bond (with a provision for early pay-off) to complete capital improvement projects within the village.
Projects the village will undertake include waterfront projects such as development of dock space on the river and the Village Square project (bids have been accepted and awarded with phase one of the project scheduled to be completed in July). The funds also include monies for the purchase of canal property on Meadow Street, site investigation of the Lock Street property (ensuring the site is free of contamination so the property can be sold) and land acquisition monies for other places in village.
“The most exciting project in front of us is the redevelopment of Lock Street,” said Mayor Joseph Saraceni. He also thanked Trustee Mark Wilder for researching the Lock Street area and lending his expertise. “You were instrumental in getting us to this point.”
Overall, the village will use $477,000 in funds for the projects.
