EDIT funds to assist park (7/15/05)

The Portland Board of Works voted Thursday morning to jump-start the proposed Hudson Family Park project by chipping in city funds. Other city funds might also move the project forward if approval is granted by the city council and county commissioners.

The board decided to use $48,280 of the city’s cumulative capital development funds, which are generated through tax dollars, to pay for the engineering work for phase one of the park project. Schneider Corporation of Indianapolis is doing the work.

Also Thursday, board members discussed seeking approval to use some of Portland’s economic development income tax funds to cover the related construction costs.

Phase one includes razing the former hatchery building, located on South Wayne Street near Union Street, and creating the park entrance area. The entrance will be from Wayne Street, directly across from Union Street, and will include decorative lighting, a sign, a circular drive and a small replica of the Arch Bridge. The cost to develop the park has been estimated at $3.4 million.

The board is considering using $176,052 of the city’s economic development income tax funds to pay for the construction of the park entrance. This includes a 20 percent contingency fee for Schneider. The money would be borrowed from EDIT funds, then gradually repaid over a number of years through the street and park department’s budget, city clerk-treasurer Barbara Blackford said.

Jay County Development Corporation executive director Bob Quadrozzi said this morning the proposed use of the EDIT funds must be considered by the Portland EDIT Advisory Committee. This committee would then make a recommendation to the Portland City Council and Jay County Commissioners for final approval.

Quadrozzi said the county commissioners will have to approve this use of EDIT funds because it is considered a change to the city’s EDIT capital improvement plan.[[In-content Ad]]