LONDONDERRY — While the talk of the town is around Woodmont Commons these days, Sen. Sharon Carson, R-Londonderry, has not forgotten about the Pettengill Road plan that would open 1,000 acres for industrial and commercial development.
"I'm at a hearing again on Thursday in the Senate for a proposed bill that would create a state infrastructure bank," Carson said. "If passed, this would help finance projects at the local level with low-interest loans from the state."
In an effort to help communities move forward with local road projects, the bank will provide a revolving loan fund that communities could access to pay for road and bridge projects. The money would be paid back over time through the tax revenues generated by economic growth.
Carson said she has been meeting with the state treasurer, the chief financial officer of transportation and the federal liaison at the Department of Transportation.
"I'm pursuing any avenue that I can," Carson said.
She said she was disappointed that funding from the American Recovery and Reinvestment Act was not granted for this project. But, she added, Gov. John Lynch is highly supportive of the Pettengill plans.
The Pettengill project would connect the existing intersection of Pettengill and Harvey Roads with the new Airport Access Road, providing another route to the Manchester Boston Regional Airport.
"If this bill passes, this could be the pilot project for the bank," Carson said. "About 30 other states employ municipal banks to help finance local projects."
She said she also has introduced a second bill that would add the project to the state's 10-year plan, which would open the project to grants.
"We need this to take off," she said. "It will bring us jobs, and we need that right now."
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