07/18/12 The Plymouth Redevelopment Commission conducted a public hearing Tuesday evening for additional appropriation for the proceeds from the Commission’s Redevelopment District Bonds Series 2012. On the 10th of this month bids were accepted for the bonds to fund the first phase of River Park Square. Three companies bid on the bonds with Cities Security Corp. the agent for Capitol One being successful with an interest rate of 3.2882% . The amount of the bond issue is $1,555,000. The bonds are set to mature in February 2028.
A resolution for the additional appropriation request was approved and will be forward to the Department of Local Government Finance (DLGF) for approval to appropriate the bond money when it becomes available.
The Plymouth Redevelopment Commission approved change order #4 on the South Gateway Project. An issue arose when the embankment wall began to slide down from the support slab. JCI had to drive pile supports to hold up the sand wall at a cost of $6,573.62.
On Tuesday they started placing the MSE (Mechanically Stabilizing Embankment) walls.
There was also a short discussion on the light pole foundation on the retaining wall. Originally recommended at 2 ½ feet in depth, the designers now are recommending them at 8 feet which would be an additional cost and another change order. INDOT is looking for a recommendation from an expert to review the suggested change.
Mayor Mark Senter and Street Superintendent Jim Marquardt will select the color for the coating on the retaining wall.