falls update 2-10-14

The Falls scheduled to open on time

BRISTOL, Va - The Bristol, Virginia Economic Development Committee and the Industrial Development Authority held a joint meeting Monday to talk about the progress on "The Falls" shopping center.

The groups voted for approval to pay their final bill in advance. The 18-million dollar contract with W & L Construction was scheduled to be paid in three installments. One of those payments has already been paid, another due in March and the Final due in August.

Their vote today will allow them to pay the bill off earlier. Bristol's Assistant City Manager, Andrew Trivette says its because the money has already been allotted, "We did that primarily because we had the money in our general fund and our money cannot be spent on anything else because it was an advertising purpose as part of that bond issue, so it was either make that payment or hold it until August, which we didn't see any advantage in doing."

Trivette says The Falls project is scheduled to open on time.

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