(Beaver Dam) The city of Beaver Dam adopted their capital budget and borrowing plan for next year at Monday night’s council meeting. The city has $6.6-million dollars in projects outlined in the 2022 Capital Improvements Plan. The CIP will be paid for with $4-million in borrowing along with a combination of grants and Tax Increment Finance District revenues.
Alderman Ken Anderson cast the only dissenting vote. He noted that the city is set to receive partial grant funding for a $1.4-million dollar splash pad to replace the pool at Swan Park. A motion by Anderson to reduce the amount of borrowing for the splash pad from $700-thousand dollars to $200-thousand failed for lack of second.
The Parks Department is getting $1.1-million in total, which also includes $100-thousand dollars to restore the lagoon walls at Swan Park. The pavilion at Tahoe Park, the playground equipment at Lakeview Park and Phase Two of Rotary Park will each receive $50-thousand.
The bulk of next year’s CIP, over $4.5-million dollars, is for street projects. That includes $1.9-million dollars for the reconstruction of East Davis Street between Spring and University. Another $390-thousand dollars is being directed to complete the delayed reconstruction of South Spring Street from Mill Street north to Park Avenue, which already saw $1.18-million dollars borrowed with this year’s CIP. There is $590-thousand dollars identified for Walnut Street from McKinley to the cul-de-sac. Other street projects include the $450-thousand dollar reconstruction of Haskell Street; the $750-thousand dollar repair of Third Street; and $180-thousand for general street repairs.
The Department of Public Works gets $340-thousand dollars for trucks and related equipment. The Fire Department is allotted $275-thosuand to replace an ambulance. The Police Department is getting for $264-thousand dollars to complete their outdoor shooting range and bolster their radio communications.
Beaver Dam has up to $71-million dollars in debt capacity under state statute. With last night’s approval of next year’s borrowing plan, the city will be at 42.6-percent capacity or $30.5-million in debt, which is $5000 less than the outstanding balance for the current year.