Bedford Borough and its municipal authority are preparing for more than $1 million worth of street paving this summer.
Borough Council, during its meeting Monday night, approved using its liquid fuels funding as collateral to help the Municipal Authority of the Borough of Bedford’s application for an about $820,000 loan from the Pennsylvania Infrastructure Bank program through the state Department of Transportation.
Tim Cooper said during the meeting that backing the authority’s loan application would help move the process along faster.
“We need to get this out to bid,” he told council. “I’m concerned about fuel prices.”
The municipal authority is looking to pave portions of about 30 streets at an estimated cost of about $815,000 to repair the streets dug up during the authority’s water and sewer line project last summer.
While the 10-year PIB loan, which includes a 1.625% interest rate, has not yet been approved, Borough Manager Barbara Diehl on Tuesday said the paving work would be done this summer.
“If it’s not approved with the 1.625% interest rate for some reason, (the authority) would go to the local banks for financing,” she said. “The paving is definitely moving forward.”
If approved, the yearly payment for the authority to pay back the loan will be $88,900.
The borough budgeted $250,000 through its liquid fuels reserves and the general fund to pave sections of a handful of streets, as well as redo 22 ramps to make them compliant with the federal Americans with Disabilities Act.
Diehl agreed with Cooper in that rising costs in construction could alter those initial estimations.
“Rising fuel costs could change these amounts drastically,” Diehl said in an email on Tuesday.
The work is expected to be done this summer. Diehl said she is hopeful it will be completed before the start of the new school year.
The paving area for the municipal authority work includes portions of the following: Barclay, Bedford, Court, Davidson, Hall, King, North Chamberlain, Simpson, Smithfield, Thomas, West, West Penn and Watson streets; Apple, Blackburn, Cambria, Cameron, Clarion, Crestview, Huntingdon, Indiana, Lafayette, Somerset avenues; Concord, Echo Vale and Hibbs drives; Fyan Lane, Springs Road, Central Way and the West Penn Street Extension.
The sections of streets set to be paved by the borough include Green Lane onto Blackburn Avenue; Fyan Lane between Preston and Hall streets; Barclay Street between King and Hammer streets; Forest Avenue between Pitt and Spring streets; and a section of Central Way west of Anderson street.
One section of Watson Street, east of its intersection with Bedford Street, will not be paved until after the completion of the Bedford Area School District’s proposed building renovation project.
The paving funded by the municipal authority will restore the roadways disrupted by the authority’s $9.3 million project last summer to replace 30,000 feet of sewer line and 18,000 feet of water line.
The borough did not have a paving project last summer due to the municipal authority’s work.
The Pennsylvania Infrastructure Bank program through PennDOT provides low fixed interest loans for transportation projects with maximum terms of 10 years.