The City of Clarksdale is cashing a $5 million check that will be used to pave street, repair bridges and tend to other city infrastructure need.
With much fanfare the Board of Mayor and Commissioners and Crossroads Economic Partnership saw the check presented to the city at Monday’s 4 p.m. board meeting.
The check is backed by a loan or municipal bond obtained by the city. The bond will be serviced by the internet use tax that collects sales tax from internet sales. The revenue stream is similar to traditional sales tax and was enacted by the Mississippi Legislature more than two years ago.
Mayor Chuck Espy alleged Clarksdale was the first city in the state to put together an infrastructure package like this. Coahoma County put together a similar internet sales tax bond and is using a $7.5 million bond last fall to build, resurface and stripe roads, improve water service, purchase equipment and replace bridges, too.
Clarksdale finalized the last details of their bond issue in March for infrastructure projects that could bring streets, sidewalks, bridges and new city equipment to the city.
Tray Hairston, a bond attorney with Butler & Snow out of Jackson, said the bonds will be held by Trustmark Bank and are for 10 years.
Espy said it was a historic day in Clarksdale as he urged commissioner to “endorse” the $5 million dollar check.
“We are working hard,” said Espy, “and have accomplished more than has been accomplished in Clarksdale over the past 50 years.”
The exact projects that will be funded by this money were not made public. Commissioners have talked for months about being ready to bid street projects during the summer construction season. Asphalt has to be laid during hot weather to set properly and not “pull up.”
Espy pointed out an unprecedented amount of state and federal dollars have come to the city and the money is being spent wisely.
Those federal stimulus dollars have also begun to trickle down to the county and other communities around Clarksdale. Jonestown, Lula, Coahoma, Tunica and Tunica County all had public hearing advertisements in March’s Clarksdale Press Register explaining the amount and type projects they are seeking.
Clarksdale voters said ‘yes’ to a $5 million bond issue in August 2019 that city leaders promised would rebuild a bridge, mitigate flooding problems, install lighting and repair streets.
The final tally saw 1,320 city residents vote for the bond issue and 675 votes against it for a 66/34 percent margin.
The city prioritized five projects totaling $8.25 million. However, after allowing for $3 million in funding from the Mississippi Department of Transportation and a $300,000 Community Development Block Grant, the city’s share would be $4.91 million.
The referendum has been tagged “Building for the Future” with city leaders pointing out this is an investment that will reap immediate rewards.
Building for the Future project include
1. Replace Second Street Bridge: $3,800,000.
2. Sasse Street drainage: $800,000.
3. Pearson Street levee/pump: $2,025,000.
4. Sidewalks/Lighting: $1.1 million.
5. Street rehabilitation: $500,000.
6. Friars Point Road: $3,600,000.
Projects are listed by priority and Friars Point would be added if fund become available through possible grants.
The city has built two sidewalks, started construction of the Pearson Street levee and begun preliminary work on Sasse Street drainage concerns. They have also bumped the Friars Point Road project up the list, but work has not started on that project.
