BERKELEY – Some digital signage and a new traffic light is expected to be seen in the future as you drive around Bayville.
The intersection of Veeder Lane, Mill Creek Road, and Ocean Gate Drive can be a tricky one, as anyone who frequents the area will tell you.
There’s the entrance to Berkeley Shores, the borough of Ocean Gate, and more in the high-traffic area. The H&M Potter School and the ShopRite are nearby, as well as multi-family housing.
All three of these roads are county roads, so the Township Council executed an agreement with the county to install a traffic signal there.
The Township Council also recently authorized competitive contracting for digital signs. Mayor John Bacchione said the State Department of Transportation approved the locations.
One will be run by the township, and it will be at Veterans Park, Business Administrator Jay Delaney said.
The other three will be on Route 9: Block 824, Lot 1.04, (northbound Route 9); Block 824, Lot 1.05, (northbound Route 9); Block 939, Lot 4, (southbound Route 9).
Financial News
The council also authorized the township engineer to apply for a grant on behalf of the Berkeley Historical Society. They will be submitting a Community Development Block Grant application for the Historical Society Building on Route 9, which used to be town hall and the police station.
The council voted on a resolution to refinance $13,195,000 of existing debt.
Delaney said that the new bonds will carry a net annual interest cost of approximately 2.582%.Thesebonds will replace the existing 1-year notes which had a slightly higher interest rate, so costs to the town will be reduced.
The primary purpose of the bond sale was to convert the notes into 10-year financing as the bond principal will be paid down over a period of ten years with principal payments varying from $775,000 to $1,550,000 each year, he explained.
