Council approves loan to purchase Wells Fargo property

Rose’s Shopping Center has also been purchased

Monday’s Council meeting began with a public hearing regarding the Town’s obtainment of a $690,000 bond to purchase and renovate the old Wells Fargo building in preparation of moving Town Hall. No public comments were provided.

David Rose, representing Davenport & Company, explained that the General Obligation Bond offered to the Town has a low-interest rate, and that the Town will be able to prepay the loan off; additionally, the interest rate of the bond is 2.25% per year. The lender is Powell Valley National Bank of southwest Virginia.

The Council voted unanimously to approve this General Obligation Bond plan as presented by Davenport & Company.

Town Council also approved the appropriation of ARPA funds totaling $1,149,050. The funds will be appropriated as follows:

  • $6,580 will go to Wifi Extensions.
  • $94,456 will complete the electronic installation of the Supervisory Control and Data Acquisition (SCADA) computer upgrade.
  • $10,000 towards Wastewater Treatment Plant (WWTP) improvements.
  • $60,000 for architectural improvements.
  • $350,000 for the Police Department Renovation Project.
  • $472,420 to upgrade all digital water meters. This will allow the Town to read meters from the Town Office.
  • $89,800 for the two needed portable pumps at the WWTP.
  • $5,000 for Water Filtration.
  • And $60,794 for contingency.

Peggy Duffey of High Street opened public comments Monday evening. Duffey has previously come to Council Meetings asking them to address the double-parking issue on High Street.

Duffey stated, “The other day, I was coming down the road and there were four cars on each side making it hard to manipulate through there.” She continued, “I don’t know if the street committee has looked into this, but we really need to do something about that because frankly it’s going to cause a wreck.”

Council member Marshal Whitaker echoed Duffey’s sentiment, “if we have a fire emergency down there, somebody’s going to have to move some vehicles or we’re going to have to move them.”

Duffey also sited a similar problem on Sycamore Street that she observed just before the meeting, where six cars were parked on top of each other at one spot. She stated that she fears all of this double-parking is going to lead to a nasty head-on collision soon.

Chief Jay Jordan proposed that the council invest in new or increased signage on High Street and Sycamore Street. As it is, there are a few “No Parking” signs on the street. Forbes recommended that the council consider moving forward with more signage to address the problem.

The Council voted unanimously to adopt the proposed 6.5% lodging tax preemptively.

In other news, Dusty Forbes shared that the Rose’s Shopping Center has finally been purchased by a group from Mississippi.

The Business Development Group out of Richmond who was previously looking to buy the property is now looking to buy another local property. The group plans to bring approximately 102-bedroom total apartment units to the town available at market rate.

Following this, the group would love to bring in commercial businesses and bring something similar to the Short Pump Town Center to Chase City.