(Beaver Dam) Beaver Dam Mayor Becky Glewen discussed her five-year borrowing plan for road maintenance and downtown revitalization when she was our guest Wednesday on WBEV’s Community Comment. City officials are governed by a self-imposed resolution that limits annual borrowing to $1.6-million dollars for equipment purchases and building and infrastructure projects.
Glewen is proposing that the city instead borrow around $3.7-million for each of the next three years followed by $2.1-million dollars for two years after that. The $1.6-million-dollar cap can be exceeded each year with a successful vote by three-fourths of the council, as opposed to a simple majority. Glewen fielded questions and comments from several people on both sides of the issue.
Glewen says the city needs to take a leadership role in proactively thinking about sustaining roads, parks and the downtown. She says this investment in the community will have a positive impact on property values for businesses and homeowners and attract new families to help increase the tax base.
The owner of a $100-thousand-dollar home would pay $18 more next year for this year’s borrowing. The loan period would be paid over ten years and if all five years of borrowing were approved, the highest tax burden would be $99 in 2027 with the final year having a $12 impact. Over the course of 12-years, that homeowner would pay $794 in total or roughly $66-per year, or $5.51-per month.
The borrowing plan will be discussed in the city’s Administrative Committee on Monday and if it advances will be considered on the council floor later that same night.
Listen to Wednesday’s Community Comment program here:
The Downtown Redevelopment Plan and Conceptual Downtown Revitalization video can be found on the city of Beaver Dam website:
https://www.cityofbeaverdam.com/egov/apps/document/center.egov?view=item;id=5751
