Some of you already know that we have an IDA – the Bridgewater Industrial Development Authority. The IDA was created in 1975 to handle the issuance of bonds, to make loans, and to purchase real estate to help promote economic development. Since then, the IDA has been involved in numerous bond matters that have helped local entities finance important capital projects. The IDA was also instrumental in the design-build process used to construct Generations Park and Sipe Center.
In recent years, the IDA also has helped to fund economic development projects for the Town. With each bond issued by the IDA, a small amount of revenue is generated from bond fees. As these funds accumulate, the IDA has been able to fund purchases like the LED sign and TV at Generations Park. Most recently, the IDA was able to purchase the LED marquee and neighborhood sign at Sipe Center. We’re grateful to have our IDA and appreciate the work of its members.