Second Street Project Funding

Following a year of planning and discussion the Second Street Project funding was finalized at the Monday December 16th city council meeting along with the approval of the 2014 budget.  The total project cost is approximately $2.2 million dollars of which approximately $1.4 million is being funded through federal and state grants.  The stormwater and water utility funds will pay for the costs of the water line replacement and stormwater infrastructure upgrades with existing funds and revenue.  Approximately $420k will be funded out of the general fund through a councilmanic bond.  The annual bond payments for Second Street will essentially replace the current bond payments for improvements to city hall many years ago, which is approximately $35k per year.  The city hall bond payments expire in 2014.  The entire $250k spent on design and engineering for the project was also funded through federal and state grants so the only direct costs to the city up until this point has been for staff time.  A full time inspector from the construction management firm hired by the city will be on-site at all times during construction and is reflected in the total project cost.  If anyone has further questions regarding the project funding they may contact the city at or via phone at 221-4246 x26.