Sandy Springs To Consider Loan Terms for Windsor Parkway Improvements

The Sandy Springs City Council on Tuesday will consider accepting the terms of a state loan and grant it was awarded by the state to make improvements on Windsor Parkway.

The council will consider the terms of the Georgia Transportation Infrastructure Bank Loan/Grant during its meeting, which starts at 6 p.m. at Sandy Springs City Hall at 7840 Roswell Road Building 500.

Sandy Springs on May 28 was approved by the State Road and Tollway Authority for a $2.75 million loan and a $750,000 grant.

Administered by SRTA, the Bank is a revolving infrastructure investment fund established in 2008 by the Georgia General Assembly.

The project project would re-align Windsor Parkway north of its current intersection with S.R. 9/Roswell Road, add two westbound left turn lanes, one through-right turn lane and increased signal separation from West Wieuca Road.

The project is designed to improve safety, reduce traffic delays and connectivity among adjacent lane uses through the removal of split-phase signal timing and the addition of turn lanes, sidewalks and pedestrian crossings.

The estimated total cost of the project is $4.9 million, which would include $1.42 million in impact fees, $2 million in Development Authority bond financing and the possible reallocation of capital improvement program funds.

If the council agrees to the terms of the loan, it would reduce the amount of funds needed from the city’s Impact Fee Fund to finance the project and its impact to the city. The $2.75 million loan represents about 56 percent of the total project’s cost, and the loan rate is set at the state borrowing rate of 1.6 percent.

The loan term is ten years with the option, after a three year Spend Down period, to prepay with no penalty. A one percent fee will be required at closing contingent on SRTA’s approval. The $750,00 GTIB grant represents approximately 15 percent of the total project cost.

Council members will also consider approving a lighting agreement with the Georgia Department of Transportation to install 11 decorative pedestrian lights in GDOT-controlled right-of-way along Roswell Road/S.R. 9 at Northridge Road.

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