Paving for Foshee

Published 9:35 pm Wednesday, June 25, 2008

By By Lisa Tindell – news editor
A 4.5-mile stretch of County Road 18, also known as Foshee Road, will soon be getting a facelift.
The portion of the road from U.S. 31 to County Road 25, also known as Shadowhill Lane, will see more than $600,000 worth of paving done on the road in coming months, County Engineer Bill Bridges said.
The grant, which carries a 10 percent match for Escambia County, is part of a High Risk Rural Road project through the state, Bridges said. The HRRR project was established through he Federal Highway Safety Improvement Program. The project sets aside $90 million nationwide for construction and operational improvements to address safety problems and opportunities on high risk rural roads.
Bridges worked diligently on the grant to ensure the success of the project, County Commissioner Todd Williamson said.
Commissioner Larry White also praised Bridges for his work in securing funding for the roadwork.
The awarding of the grant is the first step in getting the project underway. Bridges said the project is expected be opened to the bidding process in November.
The Escambia County Commission on Monday also approved the reinvestment of a $1 million certificate of deposit currently being held at Escambia County Bank in Flomaton at a rate of 5.3 percent.
Dan Britton, a representative of Banc Trust Financial Group, Inc. of Mobile, recommended the commission reinvest the funds in a 24-month certificate of deposit at First Exchange Bank of Brewton at a rate of 4 percent.
Britton said many things have had an effect on rates over the past several months.
Britton recommended the commission approve the reinvestment in the recently established Brewton branch of First Exchange Bank, which has recently become a participant in vying for such public fund deposits.
First Exchange Bank offered rates from 3.35 to 4.10 percent in a variety of maturity projects. The closest competitor was Escambia County Bank of Flomaton with rates ranging from 2.8 to 3.55 percent on the same maturity levels. Eight Escambia County banks participated in the bidding for the reinvestment of the certificates.
The reinvestment of the $1 certificate of deposit with First Exchange Bank will be made for a 24-month period. Britton said the additional .1 percentage increase for a 36-month period would not warrant “going the extra year.”
In other business, the commission: