The Town of Strasburg has secured financing from VRA for a new project involving the replacement of water lines, and an expansion of a road that will increase ease of access to the Northern Shenandoah Business Park. The Town pledged its General Obligation, or full faith and credit, to borrow $2.39 million through the Virginia Pooled Financing Program to be repaid over 20 years.
This expansion will greatly improve accessibility to the business park, by adding an additional access point. While completing road paving for the expansion project, the Town plans to update nearly 4,300 linear feet of 12" waterline that extends along the current and proposed roadway. These updated water lines will allow future businesses to connect to the Town's water supply with ease, further facilitating economic growth in the region.
"We thank you for assisting us with this critical piece of our plan to continue our infrastructure investment in the Northern Shenandoah Business Park. As detailed in our Camoin Plan, the extension of Borden Mowery Drive is the highest priority economic development initiative for the Town. Completion of the road is key to increase site readiness. Additionally, it will provide a functional east west connector between Route 11 and Route 55. Your team has been very helpful and great to work with," said Angela Fletcher, the Town's Director of Finance, regarding the Town's experience with VRA during the financing process.