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Public hearing for water main financing project on tap
MEXICO — A public hearing on a plan to borrow up to $260,000 for a new water main project is set for 6 p.m. Wednesday at the town office.
The project will extend about 2,000 feet and is scheduled to begin on Osgood Avenue very soon as part of an overall effort by the town to secure a Community Development Block Grant that would include road, sewer, water and sidewalk work at various locations in town.
Water District trustee Anne Young said the Osgood Avenue project is expected to cost about $160,000. However, about $100,000 must also be available as part of the match for a CDBG grant.
C.H. Stevenson Excavation of Wayne has been lined up to complete the Osgood Avenue water main work.
Young said the Water District is seeking to borrow up to $260,000 from the Maine Drinking Water State Revolving Fund Program for one year at a 3 percent interest rate.
The long-term note would come from the Maine Municipal Bond Bank.
She said the hodgepodge of water pipes on Osgood Avenue will be replaced with ductile iron pipes six or eight inches wide.
The water main project should be completed by the end of the year.