Sheldon, Iowa — The Sheldon City Council meets in regular session this Wednesday, March 15th with two public hearings on the agenda. The first public hearing will be on a loan agreement and issuance of notes in the amount of $1,100,000. This will be used to pay off one note from 2011, and refinance a second note from that year. That second note had a very erratic repayment schedule which caused problems at budget time. The refinancing will result in a more consistent payment schedule and will also save money on interest.
The second public hearing will be on an amendment that will update the Sheldon Urban Renewal Plan.
The council will also be asked to set a date for a meeting on the proposition to authorize a loan agreement and issue general obligation capital loan notes not to exceed $850,000. Proceeds of this loan will be used to help pay the engineering costs for the wastewater treatment plant and the re-construction on Sixteenth Street. One-half of the Sixteenth Street engineering costs will be paid by the Department of Transportation. Construction on both projects is expected to begin in the year 2018.
There are two other items on the meeting agenda that are related to the needed upgrades of the wastewater treatment plant. The first one will be to consider approval of TIF funding to fund fifty percent of the debt attributed to the new water treatment plant. The second item will be to consider approval of an engineering contract with DGR engineering for the design, bidding, and construction related to the treatment facility’s improvements. DGR’s proposed fee for this work is slightly over one million dollars. And, it is noted that this does not include the services of a geotechnical engineer as needed. Information provided to the council also reveals their opinion of probable project costs. The main objective is to bring the treatment plant facilities up to date with the new regulatory standards. The improvements that have been suggested to the council by City staff are projected to cost $11,438,000.
The council will also consider the third and final reading of an ordinance creating the Crossroads Pavilion Board and outlining their duties and responsibilities. They will discuss insurance requirements for an air show at the Sheldon Regional Airport, and they’ll set the date for a public hearing on the matter of extending the current Multi-Family Development Plan in the Trilogy Addition.
Wednesday’s meeting begins at 4:30 in the upper level of the Sheldon Community Services Building.
