Exciting News, Warrenton!
We are thrilled to announce that as of March 31, 2025, the Jerry Dyer Bridge will officially be paid off - 12 years ahead of schedule!
Thanks to careful planning and responsible fiscal management, the city made several additional payments, ensuring we paid off the loan early. Originally, the loan was over $15 million, with a scheduled payoff date of March 31, 2037. By paying it off early, the city saved over $2 million in interest payments throughout the life of the loan!
This achievement is made possible by the continued support of our community. In 2016, voters approved two half-cent sales taxes - the Economic Development Tax (ED Tax) and the Capital Improvement Tax (CI Tax) - to fund the acquisition and construction of the highway overpass.
The Vote results were:
ED Tax: 1,054 Yes, 586 No
CI Tax: 1,060 Yes, 580 No
As promised, once all project-related costs are paid off, the Economic Development Tax will sunset. The other half-cent tax will also sunset once development and redevelopment revenue are sufficient to replace the revenue generated by this tax for two fiscal years.
This is a significant milestone for our city, and we are proud of the collective effort that made this possible. It demonstrates our commitment to responsible fiscal management and making sure we keep our promises to the community!
Here's to more progress and continued success for the City of Warrenton!