Athens City Council adopted an ordinance at yesterday's meeting to allow the city to borrow $1.5 million from Hocking Valley Bank to purchase three buses for a new bus system connecting Athens to Columbus and Cincinnati.
Athens received the Ohio Rural Intercity Bus Program grant from the Ohio Department of Transportation last fall to run buses twice a day from Athens to Columbus and from Athens to Cincinnati, according to a previous article in The Post. The city will receive $1.5 million from the grant to cover the cost of the three buses, said councilman Jim Sands, D-at large.
The $1.5 million in bonds borrowed from the Hocking Valley Bank will be reimbursed through the grant within six months of the July 31 grant deadline, Sands said.
Hocking Valley Bank will issue the bonds to Athens at an interest rate of .65 percent, Athens City Auditor Kathy Hecht said. She added the interest rate will be paid off by leasing the three buses to the bus company the city chooses.
The city is accepting bids from three bus companies, FUN BUS, Greyhound Lines and Lakefront Lines to take part in the program, according to a previous article in The Post.
Although the city will not make any money from the new bus line, the city will probably take 3 percent of every ticket to cover administration costs, Hecht said. She added that the city will own the buses, but the bus company chosen will be in charge of the maintenance.
The idea is connectivity
not profit Hecht said.
City Council also discussed an ordinance to rezone North Court Street and part of West State Street at the meeting. The zoning on the north end of the street currently has more restrictions against building apartments above businesses than those of South Court Street. If passed, the ordinance would lift those restrictions.
Council President Bill Bias two city residents had voiced their opposition to the ordinance because of noise and density concerns uptown.
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Alex Stuckey
