BRISTOL, Va. - Construction continues at the Falls Development off exit 5 in Bristol, Virginia. The city council is talking about paying for the project.
The city has committed 12.5 million dollars to expand Lee Highway. Another 10 million will come from VDOT. The rest of the money, about 30-million, will be in revenue bonds.
Mayor Guy Odum calls it 'short-term' debt. He says the city borrows money and pays it back over a period of time with the revenue from the development. Mayor Odum tells us the bonds will be taken to the bond market early next year.
The construction company has plans to turn the site over to Cabela's on December second.