Ceremony Thursday to mark Golden Lane extension opening
Officials with the city of De Soto and FCB Bank will celebrate Thursday the opening of a long-planned link to De Meadow Avenue.
De Soto Chamber of Commerce director Sara Ritter said there would be a ribbon cutting at 10 a.m. Thursday to open the 420-foot extension of Golden Lane from Valley View to Lexington.
Mayor Dave Anderson and four council members will attend the event as will FCB executives Dustin Baker and Mike Drennon.
The partnership between the city and the bank is what made the extension possible.
The project had been on the city's capital improvement plan, but completion was not slated for another five years. When FCB acquired the former Dew Drop Inn property on Lexington Avenue and announced plans to build a new bank on the property, it made the extension of Golden Lane a condition of the development.
FCB agreed to participate in a benefit district that would collect assessments from nearby property owners to fund the project. However, FCB Bank later purchased the property east of the planned extension. In the end, FCB Bank funded two-thirds of the $226,000 total cost, with the city paying the remaining third.
"Having Golden Lane complete to the Lexington corridor gives access to the residential areas along 87th Street and Terrace and 88th Street and Terrace," said Baker, FCB executive vice president and regional manager. "I think we'll see heavy use of the new road, and that generates additional traffic that could be accessing the services of FCB Bank. We saw completion of the street project as a win-win."
FCB Bank also is nearing completion of its 7,000-square-foot bank in De Soto. The new permanent facility is expected to open in late December or early January. The bank has been operating out of a temporary facility to the north since March.