NEW ALBANY —
He said that by next week, the city should know how much money will be needed to complete substantial paving in New Albany.
However Economic Development Income Tax, or EDIT, funds may be used for the paving effort, which would mean the resurfacing end of the plan would likely be handled through a second bond.
Coffey said that at least the bonds should be presented to the council at the same time. He said there’s support from the council for the quality-of-life projects proposed by Gahan.
“But we’ve needed roads for the past 20 years,” Coffey said.
All of the projects included in the plan by the redevelopment commission Wednesday are vital to enticing new residents and businesses to the city and for supporting people who have already invested in New Albany, Gahan said.
He vowed that a paving bond would be produced to the council at the same time, though Gahan said the details of the financing still will have to finalized.
“Each one of these projects are necessary to keep our city competitive, and we have a variety of financial tools to help us complete these projects,” Gahan said.
“The city council, administration and redevelopment commission will be working together to determine which tool in the toolbox we’re going to use to complete the work that we need to have done.”
Potential sites for facilities
As part of the amended TIF plan, the commission named some of the potential sites for the aquatic center and Little League park.
While the city has an agreement with Floyd County that would allow New Albany to build the aquatic center on a portion of Sam Peden Community Park, the former Camille Wright Pool site was also listed as a possibility.
The Camille Wright property had been considered as a new site for a fire station if Kroger purchased the Green Valley Road fire house, however Gahan said at least the use of the former pool location may change.