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, providing the funding for Hobart’s road upgrades as well as residential-commercial development.
The upgrades will include the implementation of an underground water reservoir to improve the current water system’s efficiency, with an estimated capacity of 500,000 to 1,000,000 gallons.
According to Hobart Village Administrator Aaron Kramer, the projects are essential to address road surface replacement and increased traffic demands, with South Pine Tree Road set to widen to accommodate recent residential development and pedestrian trails to be incorporated into both South Pine Tree and Schuering Drive projects.
Sunlite Drive will undergo complete reconstruction in anticipation of further development in the area, along with increased traffic flow. The renovations are scheduled to begin this summer and are projected to conclude by late fall.
The Centennial Centre is expected to see residential-commercial development progress by late March, supported by $1.46 million in funding. For additional updates on the projects, residents can visit the Hobart Government Facebook page, the Hobart weekly newsletter, or the official Hobart government website.
Overall, the road projects are part of a concerted effort by the village to meet the needs of its growing community and enhance infrastructure for future development.
