CLINTON — Clinton officials are re-evaluating their options for filling the funding gap for the 19th Avenue North extension through the Lyons Business and Technology Park.
The city plans to construct 1,100 feet of 19th Avenue North, 880 feet of 10th Street Northwest and a right-turn lane on Main Avenue.
The Clinton County Development Association during its meeting Wednesday decided to fund 50 percent of the engineering costs for the extension project, not to exceed $65,000.
City officials originally asked the CCDA for $300,000 to pay for items in the project that are not eligible under a Restoring Iowa’s Sound Economy (RISE) grant the city received last month, such as the engineering and turn lanes on Mill Creek Parkway.
With $65,000 and the option to apply for a Fund B grant next year, City Administrator Jessica Kinser said the city is looking at other options outside of city coffers.
“The biggest cost upfront for those non-RISE grant eligible portions of the project were the engineering costs. The money would have to come from the Road Use Tax fund and it’s not a small amount, so we’re looking at options,” Kinser said.
The RISE grant covers $450,000 of the $1.55 million project with the city responsible for the remaining $1.1 million. Officials plan to use $800,000 in tax increment financing (TIF), leaving the $300,000 gap.
The extension will connect Millcreek Parkway to Main Avenue, allowing for future development in the park by opening up an additional 80 acres. Additionally, the extension will provide another access and exit to accommodate the increased traffic that has occurred as a result of the development in the area.
According to the timeline provided by the Iowa DOT, construction should start in May 2014 and the project is to wrap up in November 2014.