GARNER — Town Council adopted an order to close Old Jones Sausage Road at the behest of the developers of the surrounding property at its regular meeting Tuesday.
The section of the road running from U.S. 70 north into the re-routed Jones Sausage Road was abandoned by the state Department of Transportation. The land will become part of tens of millions of dollars worth of soon-to-come development on the northeastern corner of the intersection, which will include a Cabela’s and a Drury Inn.
No one spoke at the public hearing, which was followed by a unanimous council vote. Drury Development Corporation, which owns an adjoining parcel, and Sherman A. Yeargan, who owns the rest of the land being developed in the area, signed off on the request to close the road.
Town staff and NCDOT have reviewed the request and have no objections, according to a letter from town planning director Brad Bass.
Town finance director Emily Lucas presented the town with a refinancing plan for a 2006 loan that will save the town $200,000 over seven years.
The loan from Bank of America, which financed the purchase of water and sewer capacity from Raleigh and improvements to the Senior Center, GPAC and Centennial park, came with a 3.94 percent interest rate.
With rates low and refunding allowed at this stage in the loan, Lucas initially sought to work with Bank of America, but ultimately ended up securing an offer from PNC Bank.
“Bank of America said they did not want to renegotiate the loan, and said to do what you want. Which is what we’re doing,” Lucas said.
The new interest rate on the loan will be a fixed 1.94 percent on the $3.6 million remaining on the loan. That would save the town about $28,500 on each of the final seven payments.
A public hearing will be held on Feb. 25, and Lucas hopes to have the item on the Local Government Council’s agenda for its March 4 meeting.
The town honored a selection of Garner Volunteer Fire and Rescue firemen near the beginning of Tuesday’s meeting.
Capt. Tim Rooks received a standing ovation as he received a Medical Life Saving Award. Rooks rushed to perform CPR on his neighbor in cardiac arrest until paramedics arrived, likely saving his life.
Fire Chief Matt Poole also presented plaques to Career Firefighter of the year to Lt. Robert Hodge, Volunteer Firefighter of the year Battalion Chief Kenny Walker and Chief’s Award for Excellence to Lt. George Sutherland.
Jahner: 919-829-4822; Twitter: @garnercleveland