The Economic Development Administration (EDA) serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States. EDA’s mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.
Nassau Bay’s EDA investment will fund road, water, sewer, and power line infrastructure improvements for Nassau Bay Town Square. The Town Square development will attract businesses, jobs, and private investment to this region, which was severely impacted by Hurricane Ike in September 2008.
The Town Square Project will include the following work:
- Realign 900 ft. of Space Park Lane; Construction to be 7 inch reinforced concrete.
- Extend Saturn Lane 500 feet; Construction to be 7 inch reinforced concrete.
- Add 24” storm sewer from northern part of Saturn Lane to tie into existing system; Adjust other utilities to match new grade.
- Improve intersection of NASA Parkway and Saturn Lane; Add deceleration lane and left turn lane.
The Construction Period for these funds is to be completed by May 27, 2012.