The village of Bridgeport will soon add $400,000 to their budget after signing an agreement with Rice Energy at a Village Council meeting on Tuesday evening.
According to Bridgeport Mayor, John Callarik, the village has agreed to lease several pieces of village property to the company. Portions of the leased property include land at Gould Park and other property spread throughout the village.
The village was looking into leasing with a couple different companies, but felt Rice was providing them with the best offer. Callarik said, much like the agreement made in St. Clairsville, there will be no horizontal drilling on any village owned property. The mayor said he would like to put the money into projects he says are much needed. “We’re taking this money out of the ground, so I think it will give is a chance to work on our roads, and we’ll have more money to do that with and I hope that everyone agrees with me on that and we have to do a lot in cleaning up our town and we’re going to do it and that money is going to help us,” said Callarik.
The village said they will start to see benefits from this agreement as soon as 90 days as their first checks start rolling in. The mayor asked for residents to be patient, and they will start to see first hand, the progress being made in the village as a result of signing the lease agreement.