Michigan City Prepares To Finalize Lease Agreements With UBP Subsidiary

MLive.com reports, the Bay City, Michigan, City Council will meet in executive session tonight to discuss finalizing agreements with a United Bridge Partners (UBP) subsidiary for the maintenance, operation and tolling of two bridges. The UBP unit, Bay City Bridge Partners (BCBP), originally offered to acquire the city-owned bridges, rehabilitate one of them, replace the other and implement tolling. The parties later reached a lease agreement, pursuant to which BCBP commenced rehabilitation of the first bridge. According to MLive’s analysis of tonight’s meeting agenda, the final agreements will permit BCBP to rehabilitate rather than replace the second bridge. The article notes that BCBP will host a Thursday morning, November 10, event to update the public on the progress of the current (Liberty Bridge) restoration project. A schedule for the span’s reopening and the start of tolling has not yet been announced.