COLDWATER, MI (WTVB) – The Coldwater City Council approved a resolution Monday night that would put a question on the November ballot that city officials hope will lead to the fixing of public streets, utility infrastructure, sidewalks and the Randall Plaza parking lot.
Registered voters in the City of Coldwater will be asked to approve a $5.1 million-dollar bond issue that will be repaid over the next 11 years. It is estimated the millage to be levied in order to pay for the bonds would be 1.52 mills, or $1.52 per $1,000 of taxable value.
The 2014 millage that was 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 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.
Comments