City Council to consider funding for Streets, Municipal Building
The City Council has identified two priorities for the community that require additional funding. In January, the City Council plans to start the process of issuing a $6 million Certificate of Obligation (CO) package to fund the following projects:
1. Street Reconstruction. At least $3 million will be used to reconstruct streets that are past the point of repair, including Oak Street and the newly-named Eagle Crossing, which are in high traffic areas, and certain other streets, like East Main, which the City has not had adequate funds to maintain for many years. Funds will be used to reconstruct streets in the priority established by the City Council, until this funding is exhausted. It is anticipated that up to four miles of streets can be reconstructed with this funding, based on current construction costs.
- Map of Street Reconstruction
- Opinion of Probable Construction Costs from Hayter Engineering
- Letter Describing Road Reconstruction
2. Municipal Building - Up to $3 million will be used for Police Department and City Hall construction at the city’s previous address at 222 S. Mount St. The new City Hall will house both the Police and city services in a building planned to serve the community for decades, as the prior City Hall did. Below is more information on the City Hall from the City Hall Committee
- City Hall Committee Page
- City Hall Committee Reports
- City Hall Documentation and Sketches
- RFQ City Hall Design/Build Consultant
The $6 million debt package is being proposed to be issued in 2022. The City currently has other debt obligations which will be paid off in 2022. The City Council has proposed to issue the new CO debt to replace this prior city-issued debt, in order to minimize the impact of tax rates on residents. The exact calculation of the debt obligations will not be fully known until the actual interest rates are set when the debt is issued. More information concerning calculation of the debt repayment costs and impact on the tax rate can be obtained below.
Some Frequently-Asked Questions can be found below