By Tim SchmidtRecord Managing EditorThe city of Warrenton will pay off the remaining $365,661.05 balance on the Pinckney Street property with funds from the capital sales tax.The move is part of an exchange of property between two city funds now that the purposes for the two properties has changed from when they were initially purchased.Aldermen, at the July 21 meeting, voted 5-0 to approve a transfer of funds in the amount of $242,531 for the property exchange and to pay off the remaining loan amount. Ward 1 Alderman Karen Casserly was absent.The two properties are 30 acres on Pinckney Street across from Rebecca Boone Elementary and 7 acres behind the Warrenton 8 Cinema.The Pinckney Street property was originally purchased for $912,614 by the city’s Industrial Development Authority (IDA) with the intent for the property to be developed for economic development purposes. Ownership of the property was transferred to the city in 2014. Since then, the city has been making payments from the general fund.Now city officials are considering the property be the future site for a new pool and recreation trails.Meanwhile, the Market Street property was bought for $791,700 using capital sales tax funds as a possible site for a recreation center. Two proposed tax increases have been defeated and the city plans to use the property to spur economic development activity. The balance on the Pinckney Street property will be paid off by combining the $242,531 in transfer funds and $123,130.05 in reserves from the capital sales tax fund, officials said.“I think it is a good approach and necessary,” Ward 2 Alderman Gary Auch said at a previous meeting. “I think the reality is, the Pinckney Street property will never be an industrial development property because you will never put something in next to where a school sits.”In other news• New sidewalks will be constructed in the amount of $3,439 on portions of West Oak and East Oak streets. The sidewalks will be built on West Oak between North West Street and North Morgan, and on East Oak between N. Market and the Warrenton Villas. The budgeted amount was $3,600. The expenditures were approved by a 5-0 vote.• Multiple road closures were approved for the Fall Festival to be held Saturday, Sept. 26. The roads that will be affected include Main Street, West Street, Market Street, East Street, Hudson Street, Dryden Street and Troy Road. The streets will be closed from 7 a.m. to midnight.• The city will spend $7,057.25 for repairs to the spray ground area at the pool.Warrenton