(Beaver Dam) Separate from the budget, city officials last (Monday) night also approved their 2019 borrowing plan for road projects, infrastructure improvements and downtown revitalization. The 2019 Capital Improvements Plan totals $2.78-million dollars, the same amount borrowed last year. Because the CIP exceeds the city’s self-imposed borrowing cap of $1.65-million dollars, support was needed from eleven alderpersons for passage; 12 voted in favor. A motion to reduce borrowing to stay under the cap garnered only three supporters.
Street projects include nearly one-million dollars for the reconstruction of Roosevelt Drive from Warren Street to Park Avenue. Other road projects include Haskell Street from West to Madison, Stone Street from Spring Street to Roedl Court and the alley north of Front Street between North Center and North Spring streets.
Other purchases with the borrowed money include $250-thousand dollars for a replacement ambulance; $200-thousand dollars for a parking lot for the new northside soccer field; and $40-thousand dollars in partial funding for a police shooting range.
Mayor Becky Glewen championed a $181-thousand-dollar investment in downtown revitalization, noting that last year’s $550-thousand dollars in downtown spending resulted in the business community responding with $2.5-million in private investments.
Borrowing for the upcoming year will cost the owner of a $100-thousand-dollar home, on average, $17 per year for the next 12 years, assuming the city experiences no growth in that time. Glewen says the numbers are reasonable given that so many projects were deferred for so long.
The CIP started out at just under $4-million dollars, that was trimmed in committee to $2.71-million. Last night, a motion was approved that restored a project cut in committee: $70-thousand dollars for a boardwalk connecting Starkweather Drive with Edgewater Park was rescued from the chopping block.