Letter to Editor:
This is in response to a letter that appeared in last week’s paper.
The bridges’ contract was awarded to Bell Construction of Poland, NY on April 1, 2013. Here is a quote from those minutes: “By keeping the asphalt top course thickness at 2” adds $1,700 to the contract sum of $556,324. The new contract sum including this amended Change Order is $558,024.”
There was one change order during construction for a retaining wall of about $10,000 so the final bridges’ cost was $568,024.
The Town hired a clerk of the works to oversee construction and there were some other soft costs to be absorbed by the Town.
It was decided by the town board at a special bridges finance meeting on August 5, 2013 to maintain the financing for five years with one year bonds.
This year (2013) the rate is .74 percent; 2014 rate .74 percent; 2015 rate 1.25 percent; 2016 rate 1.5 percent; 2017 rate 1.75.
The first year interest cost is $4,129.20, due April 2014; $4,129.20 due April 2015; $6,975 due April 2016; $8,370 due 2017; and $9,765 due April 2018.
The entire interest payments total thru April 2018 is $33,368. This was a wonderful time to build the Twin Bridges, and I believe there is no need for a property tax increase.
Obviously, we should pay something on the principal during these five years. The estimated date that the bridges will be open to the public would be the last week of August.
The bridges are magnificent. Come visit the Hamlet, have lunch and inspect the new Twin Bridges and experience the beautiful falls area.
Parker Snead,
Forestport Bridge Committee
