JACKSON – Charles Tyner, who is currently both Chairman of the Northampton Commissioners Board and Acting County Director, announced at their meeting here on July 7 that their USDA Rural Development Loan has officially been approved.
The funds, which total $ 4,992,000, will be used for phase 6 of the water expansion project which has been underway for several years.
Over 200 households will be added to the county’s water system during phase 6. Most of these roads are concentrated in the northeastern part of the county, but there are also two near Gaston Lake.
The list of roads that will receive new or expanded water service during Phase 6 includes Mandrake Court (Henrico), West Main Street (Murfreesboro), Stanley Drive (Henrico), Galatia Road (Pendleton), Barrett Cabin Road ( Murfreesboro), Turkey Branch Road (Murfreesboro), Vaughan Creek Road (Pendleton), Horne Road and Whites Road (Pendleton), Big John Store Road (Pendleton), Pineridge Lane and Stanley Barnes Road (Pendleton), Willis Hare Road (Pendleton) and Boone’s Bridge Road (Pendleton).
Last month, commissioners approved a USDA letter of conditions as the final step in loan approval. According to this letter, a budget breakdown for the project includes over $ 3.6 million of these funds which will go towards construction costs and $ 608,000 will be allocated to engineering costs. Legal services, acquisition of easements, contingencies and capitalized interest (bridge financing) constitute the remainder of the projected expenses.
The loan is scheduled for repayment over a 40-year period, with the first installment due after project completion. Tyner announced at the July 7 meeting that the interest rate would be 1.5%.
Tyner also said they would soon be issuing a tender for the project, and he hoped they would even be able to expand the project even further to reach homes within a mile of the new lines. . He also estimated that the Phase 6 expansion would take less than the three-year projection given at last month’s meeting, but did not specify an updated timeline.
” We move forward. People will receive water, ”he concluded.