VA Beach Receives Stimulus Money

Virginia Beach will use $5 million in bonds, which will have to be paid back, to help revitalize 19th street between the Convention Center and the Oceanfront, according to The Virginian-Pilot.

The program that helps fund the bonds attempts to help communities create jobs and develop infrastructure. Hopefully, the money will do just that - and, bring in new residents or businesses that can help current homeowners and residents pay back the bonds.

"The city's plan to spruce up 19th Street between the Convention Center and the Oceanfront is getting a boost from the federal stimulus package.

Virginia Beach will use $5 million in bonds, allocated to the city by the American Recovery and Reinvestment Act, to buy land for sidewalks.

Plans to update 19th Street into a pedestrian-friendly corridor with mass transit had been on hold while the city determines the future of a Convention Center hotel, the former Dome site and light rail.

But since bond money was available, this project seemed like a good use, said Virginia Beach Deputy City Manager Steve Herbert.

'It's kick off money,' Herbert said. 'It's an opportunity to take advantage of that money.'

The money, which the city will have to pay back, is part of the Build America Bonds program aimed at helping communities to create jobs and develop critical infrastructure."

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Posted on Monday, November 9, 2009 - 10:44pm