New Albany is applying for a combination grant and loan for approximately $5 million from the Ohio Public Works Commission to extend Market Street about a quarter-mile from Reynoldsburg-New Albany Road to Dublin-Granville Road.

According to an Aug. 15 legislative report to New Albany City Council, the request is for approximately $5 million in funding but New Albany City Spokesman Scott McAfee said the breakdown of the percentage of grant to loan money has not been determined.

The proposed project also includes sidewalks and/or a leisure trail, on-street parking, infrastructure to support the future construction of a centralized stormwater-detention facility and possibly intersections with traffic signals.

City Manager Joe Stefanov said early estimates indicate construction costs for the entire project would be about $5 million. Work could take seven to nine months to complete, he said.

McAfee said in an email that all components of the project would be in the same general area. He noted the Market Street extension from U.S. 62 to Reynoldsburg-New Albany Road also included sidewalks.

"Stormwater issues would be addressed as part of engineering," McAfee said. "The one thing I don't know is where the street lights may go or if there would be any."

McAfee said the project plans are "very preliminary."

Stefanov said the city staff is still in the process of completing the application, which is due in early September, according to the legislative report.

The city is seeking a combination grant and loan with a minimum 10 percent local match.

OPWC funding decisions will be announced in January, with funds available in July 2020. If the application is successful and the project is approved by New Albany City Council, construction could start as early as the summer of 2020.

The best-case scenario, McAfee said, is that the project would be finished in 2021.

If New Albany is approved for OPWC funding, Stefanov said it's more likely the city wouldn't start work on the project until fall 2020.

If the OPWC awards New Albany less money than requested, the city would potentially have to consider a scaled-back version of the project, he said. If the city doesn't receive any funding from the OPWC, the project probably would be held and officials would reapply in September 2020 for funding in the 2021 calendar year, Stefanov said.

Heavy traffic through the city's village center is generally in a north-south direction along U.S. Route 62 and state Route 605, according to the legislative report to council. Extending Market Street would help alleviate congestion and provide necessary framework for future development and increased traffic, the report stated.

If the city receives funding and the project moves forward, traffic would be maintained during construction, although it could be restricted for short periods, Stefanov said.