The Madison County Council has approved additional funding for the replacement of the Eisenhower Bridge in Anderson. Our partners at The Herald Bulletin report the council will borrow $3.5 million, which will add to the $13.5 million in federal funding the county received last year for the project.
The council will borrow a total of $5 million from local banks, with the remaining $1.5 million being used to finance a new heading and air conditioning system, lights and additional work at the Madison County Government Center, according to the publication. The loan has yet to be finalized.
The council also voted to allocate $5 million from the general fund, which will be reimbursed once the loan is finalized. The Herald Bulletin reports the county needs about $3.6 million next month for matching funds to the Indiana Department of Transportation.
The total cost of replacing the bridge is an estimated $18.7 million. In July, the U.S. Department of Transportation awarded the city and county a $13.5 million Transportation Investment Generating Economic Recovery, or TIGER, grant.