Title
Committee Report (Finance): Recommendation on Completion of Roadwork
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The Standing Committee on Finance, having considered the ongoing issue of completion of the roadwork project, makes the following report: Committee recommends that:
1. The Mayor authorize the Controller to bond $4,000,000 against the Water and sewer Enterprise fund in order to complete the first 17 streets listed in the “2017 Roads to be Done and Funding” list. The streets are as follows: High St., Adams St.; Bowers St., Earl St.; Pine St.; Savin St.; Desmond St.; Fellsmere Rd.; Kimball St.; Huntley St; Fergusin Rd.; North Milton St.; Erickson St.; Freemont St.; Kennard St; Franklin St; Judson St.
2. That the Mayor Autorize the use of $1,500,000 in Free Cash for the same project and authorize the use of the portion necessary to survey and design the 17 Streets listed in “2017 Roads to be Done and Funding” above as soon as possible;
3. That the Mayor set aside upt to $465,628 or whatever amount necessary from Chatper 90 funds for 2018 to complete the 17 roads listed as “2017 Roads to be Done and Funding”;
4. That the Mayor seek to bond $5,000,000 against future Chatper 90 funds as soon as possible in the next cycle to finish the remiaing 22 streets listed as “2018 Roads to be done and Funding” presented;
5. That the MRA add to its list of streets for which to borrow Section 108 loans, Hanover St. in the amount of $338,688;
6. That the Mayor send a request in the January-February timefream to the MRA to set aside $356,700 in CDBG funds fo rhte coming year in order that the design and survey work can commence on the Section 108 loan streets that were approved by the Council, to assure that they will be started in the fall of 2017