COLDWATER, MI (WTVB) – The Coldwater City Council will be asked on Monday night to approve a resolution to put a $5-point-1 million bonding question that would include a 1-point-52 mill increase before city voters in November that would be used to fund additional road and parking lot projects.
The City Council and Coldwater’s voters approved a 1.98 mill levy and a $5 million dollar bond issuance in 2014 which were used in the reconstruction of the Chandler and Tibbits parking lots, two blocks of West Pearl Street, a block of South Hanchett Street and other street projects.
The 2014 millage that funded those projects expires this year. City Manager Keith Baker said City staff have identified a number of projects that would be difficult to complete without raising additional funds.
The plan would be to reconstruct $2-point-5 million dollars of streets and use $2-point-5 million for the reconstruction of Randall Parking lot with the proceeds from the bond resolution.
Baker says streets that would be targeted include West and East Pearl, North Morse Street between U.S. 12 and Smith Street and North Polk Street between U.S. 12 and Hatch Avenue.
According to Baker, the staff is recommending the use of up to $1 million of the general fund balance to address other city streets with an expanded mill and repaving program.
If approved by voters, work on the targeted streets would start next summer and continue for two years.
The parking lot repairs would be staged in order to minimize interruption to local businesses.
The $5.1 million bond issue will be repaid over the next 11 years.
Randall Plaza was last updated in the mid 1990’s with a surface milling, repaving and new refuse enclosure.
Baker says this time the underground utilities and gravel base would be addressed similar to what was completed for Upson, Chandler and Tibbits parking lots.
He adds, “Nobody likes extending or raising taxes but these funds would go directly to infrastructure and would not be used to offset operational costs. In my opinion, this is the best option currently available for the future benefit of our community. Inflation has increased the costs for reconstructing and maintaining public infrastructure. Renewing the soon to expire road millage would allow the City to continue to make much needed infrastructure repairs.”
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