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Town Will Issue $8.1M In Bonds To Fund Road Repairs, Recreational Upgrades
By Catherine Snipe
The next step towards road improvements on Route 70 and other heavily trafficked roads in Brick is a bond ordinance on Tuesday's agenda.
At its caucus meeting this week, the council discussed a new ordinance that could be approved by the end of the month.
The ordinance would approve bonds to be issued in order to pay for major road improvements in the township. A second bond ordinance would fund recreational and other improvements. The projects would target Riviera Beach, Midstreams, Route 70 break out projects and the township's in-house Department of Public Works paving program.
The township council has discussed improving Route 70 between the congested areas of Cedarsbridge and Chambersbridge roads, creating possible new lanes to improve traffic.
Route 70 is a state road, but the township council would like to speed up the process by paying for its project itself and then seeking reimbursement from the state. Normally, the process is push for a project to get done, wait for the state to approve the funding and oversee construction.
Brick decided it didn't want to wait for what Council President Stephen Acropolis said could be a several-year delay for the state.
As a result, the township decided to use bonds to fund this and other road improvement projects. The bond ordinance totals $3.36 million. If approved, they would be five-year bond notes.
The council will vote on the ordinance at its Tuesday, March 13 meeting.
A second set of bonds will pay for three different projects: dam improvements, recreational projects and building improvements. That ordinance totals just under $4.8 million, the majority of which will target recreational improvements. They include installing artificial turf fields, and renovations to park facilities at Trader's Cove, Drum Point Sports Complex, Frede Park, Veteran's Memorial Sports Complex, Norman J. Sherman Park, Colorado Park, Mallard Point Park, Edmund Hibbard Park and Cherry Quay Park.
At $3.5 million, these recreational projects make up more than three-quarters of the total that the bonds will pay.
About $1 million will pay for the rehabilitation of Lake Riviera Dam and Rainbow Dam, and the remaining $130,000 will pay for improvements to a joint parking facility with the county library and various township buildings.
This second set of bonds would be 15- year notes.
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