Funding ‘Fayette’s Folly’
What happened recently in Fayette County has caused me great concern. The power brokers in county government decided to move forward with “Fayette’s Folly.” That would be the new correctional facility that soon will become reality. It has been in the making for quite some time. Starting in 2013 the idea was made public to locate the new facility near the fairgrounds, then at a location near Mt. Braddock and finally behind the courthouse. All three plans failed.
Let’s move forward to 2021. The headline that recently appeared in the paper listed the USDA as providing funding for the project with up to $51 million as the borrowed amount. The maximum interest rate will be 2.25% with financing to take place over a 30-year term. Let’s see: $51 million, plus interest payments of $19 million, and the new corrections facility will now cost $70 million. I’m eagerly awaiting for the bond repayment schedule to be published in the paper that will include all the particulars, including the payment schedule, interest and total of payments.
My concern about “Fayette’s Folly” has been and will continue to be this. How will those of us who own property in this county regardless of age, income, and health be able to cope with property tax increases when the cost of this project adversely impacts the yearly budget of the county? We, the property owners of Fayette County, have again been looked at as a never-ending source of income to finance the operation of county government. The commissioners have the power and the property owners have nothing more than “home sweet home.”
Edward Zadylak
Connellsville