BY MICKEY SCHOMMER
CONTRIBUTING WRITER
HOBART – The village of Hobart is using a $10 million bond issue to upgrade several roads, such as South Pine Tree Road, Schuering Drive and Sunlite Drive.
At the Hobart board meeting on March 5, a $10 million tax-exempt bond was sold with a 2.96% interest rate and a $1,450,000 taxable bond was sold with a 4.96% interest rate, which provides the funding for Hobart’s road upgrades as well as residential-commercial development.
The upgrade will include the implementation of an underground water reservoir, as well, which will provide more efficiency for the current water system.
The reservoir will hold an estimated 500,000 to 1,000,000 gallons of water.
“The majority of these projects are needed to replace the current road surfaces or to address increased traffic counts,” stated Hobart Village Administrator Aaron Kramer. “Thanks to tax increment district funds, additional state transportation funding, and an increase in state general aids, we have a one-year window to invest a considerable amount of money into our road construction plans and really tackle some pressing needs.”
The renovation is expected to start this summer with the project’s completion ending in late fall.
Kramer noted that each road has specific repair needs.
“South Pine Tree Road will be widened in order to handle the additional traffic from the recent residential development in that area,” said Kramer. “Schuering Road will undergo a replacement of the driving surface, which has deteriorated quickly over the past several years.
Both roads will have a pedestrian trail incorporated in their project plans.
“Sunlite Drive is a complete reconstruction and upgrade of the existing road surface, in anticipation of further development in that area and the increase in traffic.”
Kramer says that residential-commercial development in the Centennial Centre is expected to be announced in late March with the help of $1.46 million in funding.
Future updates on the projects can be found on the Hobart Government Facebook page, in the Hobart weekly newsletter and on the Hobart government website, hobart-wi.org.