Prospect Park taps $2.1M in grants for repaving projects on four roads
PROSPECT PARK — The borough will repave four roads in the next year by applying hundreds of thousands of dollars in grants, officials said.
The projects include drainage improvements and the replacement of curbs, driveway aprons, sidewalks and wheelchair ramps on Fairview Avenue, North 15th Place, North 17th Street and North Sixth Street.
Work is underway on Fairview Avenue, said Borough Administrator Intashan Chowdhury. The projects will cover a mile and a half of road surface, he said.
Sewers will be replaced on North 15th Place and on North Sixth Street.
“The condition of our roads and sidewalks is a top priority as it provides a framework for how well we operate on the front lines,” Mayor Mohamed Khairullah said in a statement.
The projects are being paid for with $2.1 million in financial aid from county and state sources, Chowdhury said.
Those grants will be supplemented with $600,500 in low-rate loans from the New Jersey Transportation Bank Financing Program, which is co-administered by the New Jersey Infrastructure Bank and the state Department of Transportation.
Chowdhury said the program will allow officials to save almost a quarter of the cost of the projects over the 20-year term of the loans.
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He said rising inflation since the pandemic prepared the borough to be creative when it comes to financing capital improvements.
Chowdhury said the program enabled officials to “borrow more money” and to “expand the projects in ways that we hadn’t considered.”
Philip DeVencentis is a local reporter for NorthJersey.com. For unlimited access to the most important news from your local community, please subscribe or activate your digital account today.
Email: devencentis@northjersey.com
This article originally appeared on NorthJersey.com: Prospect Park NJ to use grants for street improvements
