R.I.D.E. presents $50K check to EL for River Road Improvement Project
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EAST LIVERPOOL --R.I.D.E. (Road Improvements Drive the Economy) East Liverpool Inc. presented a $50,000 check to East Liver Auditor Marilyn Bosco on Wednesday to go toward the cost of the River Road Project.
R.I.D.E. is a 501 (c)(3) corporation which was formed to organize through the efforts of local businesses as a vehicle to provide support and assistance to the City of East Liverpool to lessen the burden of maintaining public roads and infrastructure, Gary McClurg, president, R.I.D.E. said.
Some of the businesses involved in R.I.D.E include Seaforth Mineral, TransMontaigne, Growmark, Parsons Terminal, Agland Co-Op Inc., ; Six Recycling, East Liverpool River Rail Terminal, Inc., Heritage and DW Dickey and Son, Inc.
The R.I.D.E. organization has donated $50,000 a year for the past seven years to help the city with the expenses incurred for the River Road project, which was a total rebuild of the road --completed seven years ago. The group provides a $50,000 annual payment as its share.
"The River Road Project is a substantial improvement which will help maintain current businesses as well as attracting new businesses to our community," McClurg said. "We greatly appreciate the efforts of the city in this project."
The R.I.D.E organization helped set up the financing for the River Road Project and the annual $50,000 is their share for the project, according to Bosco.
McClurg said he believed the project to cost about $1 million and the city got a grant which the organization helped to secure and it will make approximately 50% payment on the grant. R.I.D.E. has paid over $350,000 and will continue until they pay at least $500,000.
The project was paid for with an SIB (State Infrastructure Bank) secured by the city with payments toward the loan to be paid by money set aside by R.I.D.E.
McClurg noted that the organization is hoping over time to develop a broader base and maybe be able to cover more than just that singular Road.
The organization has agreed to donate funds to be matched to differing degrees by the city.
R.I.D.E is hoping to obtain more financial support through the state and other funding sources using their contributions as a base line for local investment. The organization is also hoping additional businesses will continue joining with the organization in their support.
Additional information on the non-profit organization can be found by visiting their website www.rideeastliverpool.org.
kgarabrandt@mojonewsnews.com