City sets sights on a $5 million street project next year
October 4th, 2006“It’s time we do it.” That was the comment from council member Roger Bruellman Wednesday after hearing a presentation for a 2007 street and utility project estimated to cost $5.1 million.
Last month, the City learned it could take on a larger street/utility upgrade project than originally planned and still keep its good credit rating.
The City postponed a $2 million project originally scheduled for this year. Plans now are to conduct more than $5 million worth of work in 2007. A total of $20 million of city-wide street and utility improvements is anticipated.
According to the report by Short Elliot Hendrickson Inc. (SEH), a $5.1 million project would include improvements to the following streets:
• First Street and Second Street from Main Avenue to Lincoln Avenue;
• High Avenue from Third Street to Trunk Highway 5 & 19;
• Jefferson Avenue from Third Street to First Street;
• Franklin Avenue from Third Street to First Street;
• Columbia Avenue from Third Street to First Street;
• Lincoln Avenue/CSAH 21 from Third Street to Lake Avenue East (paid by Sibley County);
• Lake Avenue and Lake Avenue East;
• Fourth Street
• Linden Avenue, Park Drive and Veterans Drive;
Doug Parrott of SEH explained that the project would be phased and sequenced over a period of time. “We can make it work without a lot of disruption,” Parrott said.
Topography information for the project is currently being collected, according to Public Works Coordinator Avery Grochow. When this field work is completed, SEH will develop a feasibility study. The City is hoping to call for bids on the project in January, Grochow explained.
Council members asked City Administrator Lonny Johnson to confirm that the City’s debt ratio would remain below 15% if this project becomes reality. Johnson reported Friday that the debt ratio would reach approximately 12.5% with this type of project.
Gaylord’s debt ratio has declined from 21.5% in 2001 to less than 10% today. The lower debt ratio has produced a good credit rating for the City. This enables the City to borrow money at lower interest rates.
