Traffic light payment plan approved

A new traffic light is planned in an industrial area on the east side of Greenwood now that officials have sorted out who will pay for the project.

Peterson Co. is developing the last property at the Graham Road and Keaton Way intersection, with plans for two shell buildings. The city’s policy was that because the company was the final developer at the site, it would be responsible for paying for a traffic light to be built in order to handle the expected increase in vehicles, which the company argued was an unfair requirement.

The Greenwood Redevelopment Commission unanimously approved paying for a share of the $173,000 project.

The agreement calls for Peterson Co. to pay $47,000 while the redevelopment commission will pay the remaining $126,000. If the project goes over budget, Peterson Co. will pay those costs, according to the agreement.

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Jacob Tellers is a reporter at the Daily Journal. He can be reached at jtellers@dailyjournal.net or 317-736-2702.