Officials say funding is in place for the long-awaited demolition and replacement of Concord's 100-year-old Sewalls Falls Bridge.
The Concord Monitor reports City Manager Tom Aspell and the New Hampshire Department of Transportation came to an agreement over stalled funding for the project Monday. The deal will allow Concord to build the new bridge and eventually be reimbursed as promised by the federal government.
A grant from the federal Highway Trust Fund will pay $10 million. That's 80 percent of the cost. The city will pay the remaining 20 percent.
The state will immediately allocate $5.5 million of the federal grant to cover work scheduled for 2015.
For 2016 and beyond, the city can finish construction and spend the remaining $4.5 million, which will be reimbursed.