Beaver Dam Borrowing Plan In Committee Tonight

(Beaver Dam) The Beaver Dam Common Council meets Monday night but a major vote on a borrowing plan is not on the agenda. Instead, a special council meeting is now scheduled for next Monday. Mayor Becky Glewen introduced a plan last month that would have the city borrow $3.7-million dollars, instead of the $1.6-million that is currently allowed under the council’s self-imposed borrowing cap. It would be used for downtown revitalization and additional street projects.

Council President Robert Ballweg assembled his own amendments to the mayor’s plan that reduces borrowing in each of the first three years, by $300-thousand dollars, to $3.4-million annually.  A third borrowing plan by Alderman Ken Anderson eliminates funding for the downtown revitalization plan all together but, at $3.47-million in year one, still exceeds the borrowing cap to pay for roads, and a splash pad to replace the aging city pool.

It would require a three-fourths majority of the council each year to approve borrowing above the $1.6-million cap. While the full council will not be considering the borrowing plan tonight, the agenda for the city’s Administrative Committee does include consideration of a resolution approving 2018 projects and funding as part of the five-year plan.