Sheldon Council Discusses Streetscape Financing Possibilities
Date posted - November 13, 2012
When the Sheldon City Council discussed the proposed downtown Streetscape project at their meeting last week, one of the questions was, “how do we pay for it”?
City Clerk Arlene Budden described some of the details she had learned from the Bonding Attorney. The City probably would use Tax Increment Financing funds for the project and therefore the cost would not be assessed to the taxpayers. The plan would be subject to a reverse referendum.
But it will be sometime before the council needs to address financing the project. At this time they are waiting for more information from the engineer, and will start discussing how the property owners on the five block project would be assessed. It was also announced that there would a public hearing before the project, if approved, would go to the bidding process.
Council members also stressed that the public has ample opportunity to voice their opinions during the public comment session at council meetings.In other business, the council approved the sale of a residential lot in the Schemper Addition to Tim and Karen Pottebaum. They also approved the re-platting of the area around Fieldcrest which would create 15 to 16 additional residential lots in that area. And approved going forward with work at the airport which would include runway and taxi-way improvements.
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