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Stewart City Council considers 2016 street, utility proposals

Submitted by admin on Wed, 11/18/2015 - 12:12pm
By
The city of Stewart is considering approximately $3.5 million in improvements for the “worst part of town.”
 
The City Council discussed financing for the proposed project with engineer Andy Kehren of Bolton & Menk and financial adviser Shannon Sweeney at its Nov. 9 meeting.
 
The proposed project is to address underground utility and street surface issues for portions of Powers, Croyden, Grove, Bowman, Mowbray and East streets.
 
Sweeney suggested the city could qualify for a $1.4 million low-interest loan from the Public Facilities Authority  (PFA) for the sewer improvements, with a 30-year payback; and a $1.3 million PFA loan for the water portion, with a 20-year payback. The rest would need to be financed through a general obligation bond.
 
For more see the Nov. 18 print edition of The Chronicle.