Monaca explores $2M improvement financing or $5M bond for building projects
Manager David L. Kramer said work continues on an LSA grant for a transmission line and the borough is exploring financing roughly $2 million in building improvements or pursuing a new ~$5 million bond on a 30-year term to cover multiple projects; the bank is reviewing feasibility.
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David L. Kramer reported ongoing work on a Local Share Account (LSA) grant application for a transmission line project and said the borough is examining options to finance building improvements. Kramer outlined two possibilities: financing approximately $2 million in improvements or pursuing a new bond of approximately $5 million to cover the building improvements, another building project and the transmission line. He said the proposed bond would have a 30-year term while the bank reviews the financial figures.
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