A few years ago, during the depth of the economic crisis, John Q. Public learned a new phrase: “quantitative easing.” While it’s a bit more complicated than simply printing money, quantitative easing does increase the money supply. As to whether it has worked to get us out of the worldwide slump, The Economist says the jury is still out. And now Washington brings us “pension smoothing.” Those of us who are unfamiliar with the workings of high finance — but can smell a euphemism at 50 yards — may marvel at such linguistic creativity even while we assume that its real purpose is to make things sound better than they probably are. Whenever anything is given a happy-face name, it may be time to look deeper. The “smoothing” tactic — to temporarily reduce private pension contribution requirements in order to increase companies’ taxable income, and thereby raise government revenue — may sound like a Rube Goldberg arrangement, but it’s one of the ways the House plans to keep the Highway Trust Fund going for a few more months, according to news accounts. The highway fund is the main source of money for road and bridge construction projects all over the country, and it’s about to go broke. The Senate will vote on this short-term plan soon, and since there’s little prospect of a long-term solution, this Band-Aid measure may very well pass. CLICK TITLE TO CONTINUE
Here is the first installment with Peter Stevens, president of JCJ Architecture and Robert Saint, director of construction services for the Capital Region Development Authority:
https://www.youtube.com/watch?v=xbrJbIEsEgE&feature=player_embedded
Work starts at new Army training site in Branford
BRANFORD >> Crews have begun moving earth off of East Main Street at the future site of the Bridgeport Army Reserve Center, as a Mississippi-based construction company secured a $13.5 million contract with the U.S. Army Corps of Engineers. Army Corps spokeswoman Carol Labashosky said Wednesday the project, which includes building a 37,000-square-foot training building expected to house classes for 300 weekend reservists at the 15-acre site, is expected to be completed in January 2016. “It should be weeks before construction workers break ground on the building itself,” she said. Carothers Construction of Oxford, Mississippi, secured the contract.
First Selectman Jamie Cosgrove said the payloaders and backhoes that can be seen moving dirt along the side of the road are prepping the facility’s entrance. The property itself is part of what once was Bittersweet Farm, home to thousands of chickens. In the late 1980s, the sprawling property was used as a mecca for artists and was dubbed the Branford Crafts Village at Bittersweet Farm. Planning and Zoning Commission meeting minutes from April 2014 indicate that a 400-foot road will connect the training facility with East Main Street. CLICK TITLE TO CONTINUE
Barkhamsted receives grant to repair bridges
BARKHAMSTED >> The town is set to receive a state Small Town Economic Assistance Program grant (STEAP) worth half a million dollars to help repair two bridges. Town First Selectmen Don Stein said he first learned that the town would receive the $500,000 grant — the maximum amount available through the program — last week. The announcement was made public Tuesday by Gov. Dannel P. Malloy’s office. The money was requested to repair bridges that cross Beaver Crook on Park Road. The northern-most bridge is heavily damaged and requires extensive repairs. The second bridge was damaged by Hurricane Irene in 2011, which caused damage to nearby roads as well, endangering public safety, Stein said. The grant enables the town to pay for the projects without an additional burden on taxpayers, Stein said. “It’s a great bonus for a small community to fund projects,” Stein said. The project will cost $512,700, Stein said in his grant application, with the town funding the remaining $12,700. The first bridge is located on Park Road, 2.9 miles north of the intersection of Route 181, according to the grant application. The bridge, which is 17 feet long and 22 feet wide, is considered “structurally deficient” and “functionally obsolete” by the state’s Department of Transportation. The estimated cost for replacement and road repairs is $340,300. CLICK TITLE TO CONTINUE
Money can't outrun roads
THOMASTON — With 45 roads reconstructed, the town has reached the end of its $10.7 million bond to repair 62 roads over seven years. Before paving North Main Street this summer, First Selectman Edmond V. Mone said there was $366,883 left in the bond. He said he doesn't know how much is left now because the bills for that project have not all come in, but it's not likely to cover the cost of reconstructing another road. With the last of the bond money nearly used up, construction on Thomaston roads is over for the time being, Mone said. "I know we didn't get as far as we wanted to," he said. Unforeseen costs — including some roads that were paved over sand or dirt with no proper base, as well as increased costs in asphalt — prevented Thomaston from completing all the roads on the list. He said he wants to wait three to five years for the town's debt limit to go down before considering another bond package. The next round of bonding may be $15 million, Mone estimated.
In addition to the 17 roads that were supposed to be reconstructed under the last bond package, Mone said others are likely to be added to a new list in a few years. The Web section of town, including Hillside Avenue, Gilbert Street, High Street and others in that neighborhood, previously was identified as an area in need of work but was not included on the bond, Mone said. He said that area needs more than $1 million in sanitary sewer work before roads can be reconstructed. The sewer work likely would be included in the next round of bonds, Mone said. Mone added that when the time comes, an engineer will assess and rank all the roads in town and give a projected cost.
For now, Mone said, other capital expenses — including a recently completed communications upgrade, and new roofs for schools and other town buildings — have taken precedence.
In the interim, Thomaston will use state Town Road Aid to repair potholes and skim coat small sections of road, Mone said. At one time, Mone said, the town put aside money each year for road repairs, but more pressing needs and the desire to control taxation put an end to that practice.