The Board of Directors of the Stephenville Economic Development Authority [SEDA] met and voted Monday night requesting that the Stephenville City Council fund a $48,590 “forgivable loan” to Nick Halili for engineer design fees for a proposed traffic light at the intersection of Christy Plaza and Washington Street [Hwy. 377].
For those unfamiliar with the street name “Christy Plaza,” it’s the street that runs between Cotton Patch Cafe and Chicken Express, with La Quinta Inn and Suites and Pet Supplies Plus behind them.
As area residents know, it is often very congested at times, particularly at lunch and dinner times and on weekends.
“Monday night the SEDA Board of Directors unanimously approved a loan in the amount of $48,590 to Mr. Nick Halili dba Drini Real Estate Investments, LLC for engineering services related to a traffic signal light on Hwy. 377 at Christy Plaza," SEDA Executive Director John R. Hubbard said. "Mr. Halili has agreed to the terms of the SEDA loan/grant. When the signal light is constructed the loan will be forgiven.”
Hubbard cited three reasons that influenced SEDA’s decision to approve the forgivable loan:
• The future signal light will facilitate development to the north and south of traffic signal location,
• It eliminates the need of the city purchasing a signal light at this location, and,
• The future signal light is compatible with the City’s thoroughfare plan.
Hubbard said that the Stephenville City Council will consider this item at its next regular meeting on Tuesday, Dec. 6. Should the council approve the loan/grant, the firm of Baird, Hampton & Brown will do the engineering design work.