GREEN COVE SPRINGS – Clay County roads deemed deficient and in critical condition could see fixes come as soon as next year.

The Clay County government’s financial department is in the planning stages of what to do with critical roads across the county and county commissioners recently signaled how they want the department to advance forward on these roadway projects. Because of a price tag as high as $130 million, the county will be using bonds to get the costs covered.

“Bond funded projects are for (deficient/critical projects),” financial advisor to the county Jeremy Niedfeldt said. “There’s $130 million for (deficient/critical projects) along with another $167 million in don-deficient projects.”

While a blank check covering these combined costs of $297 million would mean quick fixes to all of Clay County’s roads that need it, that kind of blank check doesn’t exist for the county, forcing it to rely on bonds.

In proceeding forward with this method of funding, Niedfeldt presented commissioners three different options: a base-case scenario, an alternative and alternative two.

The base-case scenario is the county bonding out $130 million at once and completing all deficient and critical road projects within five years of doing so. The first alternative funds that $130 million over four years with $104 million bonded out at the start and the additional $26 million bonded at a later time. The second alternative is similar to the first, but it requires the county bond out $78 million now and $52 million later.

Commissioner Wayne Bolla expressed interest in potentially finding an alternative to these options such as saving up money where bonds are necessary. County Auditor Mike Price said such an alternative would be pointless as the rate of inflation would prevent any real savings from happening.

“If you’re waiting to save up money, the inflation will end up costing you more than your interest rates (with these bonds), not less, to do this,” Price said.

This is why Price said he believes the county should utilize bonds. He said he’s in favor of all three options, but he said there’s more risk with some when compared to others. Price said that the base-case scenario is especially appealing because $130 million up front and now will buy the county more than it will at any time in the future.

“You’d have to get it done in five years though,” Price said.

Niedfeldt said if the county proceeds with the base-case scenario, it will be stuck with its initial plan whereas the other options allow some flexibility in decision making. Despite the stringency, the BCC ultimately told Niedfeldt to pursue the base-case scenario in their planning.

Niedfeldt’s team is currently in the financial planning stage. He will return to the BCC within a month with legal framework to ask for the ability to access capital markets. The transaction will be closed by April and the county can begin work on the project, according to Niedfeldt.

The deficient and critical roads in question are County Road 209, specifically from U.S. 17 to County Road 315B and CR 315B to Sandridge. From Henley to CR 209 on Sandridge Road is a part of the plan as is Pine Tree Lane to Cosmos Avenue on CR 218. On CR 220, the plan is to have State Road 23 to the west of Henley Road fixed and to see Lakeshore Drive to U.S. 17 become six lanes.

“These (fixes) are essential for the growth of the county but more importantly, for the quality of life for our people,” commissioner Mike Cella said. “Traffic will never go away but we can attack certain areas that need to be attacked.”