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|Sterlington eyes $1.2 million bond sale|
The town of Sterlington will ask the state Bond Commission next week to issue some $1.2 million in bonds to finance infrastructure improvements and improve access to the town's growing retail corridor along U.S. Highway 165.
Sterlington's board of aldermen passed a resolution Tuesday at its regular meeting to seek approval from the Bond Commission for the $1.2 million bond sale.
"We've got the new access road for the elementary school," said Mayor Vern Breland. "The next phase we're going to go into is putting in the necessary infrastructure for a grocery store."
Breland would not identify the grocery store chain looking at the Sterlington site, but he said the commitment from the company was "firm."
The proposed bond sale would be funded by a special tax increment funding district, or TIF, which covers the retail area, a new elementary school and the Sterling Fields development.
Breland said the bond money would pay for the construction of turn lanes and installation of traffic signals throughout the district to improve access to existing retail development.
In other business, designers unveiled preliminary designs for a new welcome sign for the town of Sterlington.
The sign will be placed along Highway 165 near the town's corporate limits. Preliminary designs incorporate a number of cultural themes from around the state. Breland said the sign would include a fleur-de-lis and express what he called the town's spirit.
"It's going to say Faith, Family and Friends along the bottom of the sign," Breland said. "They're still working on the final design."
Breland expects the sign to be in place "pretty quick."
"We're hoping to have it up by November," Breland said. "That gives us time to build the base and get the site ready."