The Zanesville-Muskingum Port Authority will receive a $500,000 loan from Muskingum County to pay looming bills.
At Wednesday’s Port Authority meeting a resolution was passed to approve the loan necessary to pay bills for the Eastpointe job-ready site.
The Port Authority will pay back the loan later this year when it’s reimbursed with state grant money.
“It’s what we’ve typically done on large projects. We’ve got probably about a million-and-a-half dollars worth of project work going on out at Eastpointe right now and we’ve got some big bills coming in and we just needed a little bit of help on the cash side,” says Jerry Nolder, Port Authority executive director.
In other Port Authority news, officials are still working with nine property owners to secure land for the turning lane into Eastpointe off of State Route 93.
“We had to hire two consultants that are right-of-way approved by ODOT. They’re in the midst of that as week speak and trying to get appraisals done,” he says. “We’ve got signatures on some of the agreements, we’re working on some other ones and they’re just right in the middle of that process right now finalize open issues.”
Nolder will meet with Ohio Department of Transportation officials Thursday morning to discuss the progress of the project.
It is expected to cost more than $1.2 million and bids should start going out in early 2010.