The public is invited to give their input on a proposed bond agreement to pay for Phase One of the Main Street project tomorrow morning.
As required by state law, the Vincennes Redevelopment Commission has scheduled a public hearing before their meeting Thursday morning. During that hearing, area residents will have the chance to voice their opinions and concerns about a $5 million bond the RDC is set to approve to fund the $3.8 million initial phase of Main Street improvements. If approved on 2nd and 3rd reading, the bond would activate in January of 2019 and reach a maturity date in January of 2027. Per the terms of the agreement, the interest rate on the bond won’t exceed 5%, and is expected to be somewhere around 3.25%.
Phase One will see the addition of a turn lane, news sidewalks, street lighting and bicycle paths from 22nd Street to Jamestown Apartments.
The public hearing is set for 9:00 a.m. tomorrow morning at Vincennes City Hall.