At their recent special Council meeting, the City of Riverside reviewed the financing of the 3rd Street project. This project includes finishing off a small portion of 2nd street, the rest of Row Street and all of 3rd Street replacing water main, street, curbs and gutters as well as sidewalks.  All of the sewer services are being renovated from the main to the back up curb so if there is any disruption it will take place outside of the street preventing having to access a problem from the street.

City Administrator for the City of Riverside Christine Yancey shares how the financing will move forward, “I was just, like anything else, with the way the economy is, I was a little concerned. We have potentially the ability to cash flow the project but I don’t want to run everything short in any of our funds. So I was looking at the options of either getting a short term loan from the bank or to go for a bond. And at this time, I know the City Council has voted to just kind of let it ride and see where we are from a month to month basis but we do have a backup lined up with Peoples Bank here in Riverside that if we do need a short term note until the remainder of this fiscal’s year casino agreement and gaming tax revenue comes in, it can fill that gap, it can bridge the gap.” 

To learn more about the 3rd Street financing review tune into today’s JJ Nichting Company In Touch with Southeast Iowa program on-air and online at kciiradio.com.