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SHEFFIELD, Alabama – Inspiration Landing has been in the works in Sheffield since 2006, so only an idea. The project was believed to be dead once the Great Recession hit, but it came to life in 2015.
In 2021, progress is visible with newly paved roads and sidewalks leading to future businesses and attractions, although Sheffield Mayor Steve Stanley has said the project has seen its share of setbacks.
“Construction started last year and we expected it to be completed much sooner than it is,” the mayor said. “Of course we had a pandemic and record rainfall this spring which caused some delays.”
Mayor Stanley said excessive precipitation in early 2020 led to problems with lower subsoil conditions on the platform.
During those times, the mayor said interest charges on the construction loan were accumulating. To help cover those costs, this week city council approved a cost overrun of more than $ 400,000, but the mayor said it wouldn’t impact taxpayers because of the savings and interest. a USDA loan.
“We are also in the process of redeeming a 2013 bond issue which we can reissue at a lower interest rate for substantial savings and we will be raising additional funds on this new bond issue and structuring it the same. way that USDA loans, ”the mayor said.
Mayor Stanley said if city council had known about the condition of the ground before construction, it would have borrowed the appropriate amount for the loan early on. He said that while the project costs more than the city expected, it is not more than it can handle. He added that the cost would not jeopardize the success of the project.
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