Beaver Dam Officials To Review Next Year’s Borrowing Plan Monday Night

(Beaver Dam) The first and only scheduled review of the city of Beaver Dam’s $4-million dollar borrowing plan for next year will be held as part of Monday evening’s regularly scheduled city council meeting. The city has $6.6-million dollars in projects outlined in their 2022 Capital Improvements Plan. Besides the $4-million in borrowing, the projects would be paid with a combination of grants and Tax Increment Finance District revenues.  

As far as street projects: another $390-thousand dollars is being directed to complete the reconstruction of South Spring Street from Mill Street north to Park Avenue, which was delayed after bids last year came in above the $1.18-million dollars earmarked.  

The city has $590-thousand dollars identified next year for Walnut Street from McKinley to the cul-de-sac. The $1.9-million dollars reconstruction of East Davis Street between Spring and University would see three-fourths of the cost paid with grants.  

Other street projects identified in next year’s CIP include the $450-thousand dollar reconstruction of Haskell Street, which will be fixed primarily using Community Development Block Grants.  

The $750-thousand dollar repair of Third Street from West to La Crosse will be paid with TIF dollars. Another $180-thousand will be spent on general street repairs.  

Worth noting, the five-year streets plan lists $3.4-million dollars for the reconstruction of Lake Shore Drive in 2024.  

The Parks Department is seeking $1.1-million which includes $700-thousand dollars for a splash pad at Swan Park along with $100-thousand dollars to restore the lagoon walls. The pavilion at Tahoe Park, the playground equipment at Lakeview Park and Phase Two of Rotary Park would each receive $50-thousand.  

The Department of Public Works has $340-thousand dollars requested for trucks and related equipment.  

The Fire Department needs $275-thosuand to replace an ambulance.  

The Police Department is asking 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. If the 2022 borrowing plan is approved, the city would be at 42.6-percent capacity or $30.5-million in debt, which is $5000 less than the outstanding balance for the current year.  

City officials will discuss the CIP tonight and the mayor has called on the council to reconvene in special session tomorrow.