Harrison water project funds approved

The funds are part of the American Recovery and Reinvestment Act provided to Georgia for shovel-ready projects and consist of a 70 percent subsidy ($1,610,000) and a three-percent 20-year loan on the remaining 30 percent ($690,000). The IDA had hoped to qualify for a zero percent loan for the 30 percent.

“It’s still a good deal for Madison County,” White said.

There were three requirements to be eligible for the stimulus funds: construction must be able to begin as soon as possible; work must be completed within 18 months and American products must be used in the construction.

The Madison County funds approved Tuesday, along with a $25 million grant/loan package for Athens/Clarke County, are the first financed in Georgia by the American Recovery and Reinvestment Act (ARRA), according to a press release from Governor Sonny Perdue.

The IDA is currently taking bids on the project and White said he hopes to be able to begin work on the waterlines by the beginning of August. “I think we can meet the deadlines on this project,” White told the board.

In another matter, he IDA will re-bid the Hull/Sanford sewer project in June, with a bid opening at the end of the month. White said all previous bids were “way too high to begin with.”

“With the prices I’m seeing (the bids) should be within budget this time,” White said.

Also, the IDA agreed to name to previously unnamed streets in Madico Park Glenn Drive and Industrial Drive.