Kokomo Board approves $150,000 EDA CARES loan, multiple pay applications and schedules Jefferson Street hearing

The Kokomo Board of Public Works and Safety on March 12 approved a $150,000 loan from the EDA CARES Act recovery and assistance revolving loan fund to REO Holdings LLC, authorized multiple contractor pay applications and retainage releases, set a bid opening for the Elizabeth Street reconstruction project and scheduled a public hearing on a proposed Jefferson Street sanitary sewer assessment.

The loan recommendation was presented by Colleen Shaw, development specialist in the city's development department. Shaw said the board of the revolving loan fund had recommended a $150,000 loan to REO Holdings LLC with a 10-year term, a fixed 5% interest rate and monthly payments. The board approved the loan and authorized the president to execute loan documents as approved by corporate counsel; a motion to approve was made, seconded and passed by voice vote.

Why it matters: the loan uses federal CARES Act revolving funds meant to support local recovery projects and was routed through the city's revolving loan fund board prior to the Board of Public Works and Safety approval.

Engineering and contract payments

John Fikard, director of engineering, presented pay application number 7 for the Northeast Water Main Extension (project C2307-1A). Fikard said the contractor, TSW Utility Solutions Inc., and consulting engineer Donna Hugh and Associates Inc. had reviewed quantities placed in the field and stored materials. The board approved pay application number 7 in the amount of $17,220 and approved release of $20,000 in retainage. Fikard said the original contract amount was $2,807,326 and had been increased to $2,846,667 by change orders 1 and 2.

John Piper of Mercury Engineering presented pay application number 2 for the Northeast Sanitary Sewer Extension Phase 2, contract with Atlas Excavating Inc. Piper recommended approval of pay application number 2 for $360,020.72 and that $18,948.46 be placed into a retainage account; the board approved the recommendation by voice vote.

Troy Riller, superintendent of the parks department, told the board the Kokomo Parks and Recreation Department is under contract with Button Bomb and More LLC (contract total stated as $344,400) for construction of a splash pad at Jackson Morrow Park. Riller requested pay application number 2 for $50,000 for work completed to date; the board approved the payment by voice vote.

Bids and hearings

Darren Metz, traffic systems manager, described the Elizabeth Street reconstruction project (project E2502-1), which includes replacement of curbs, sidewalks, ADA-compliant ramps and storm sewers from Hopper Street to a point 650 feet north of Hopper Street. Metz recommended approval of the specifications, plans and quote documents and initially proposed an April 9 bid opening; the board set Tuesday, March 25, 2025 at 10 a.m. Eastern as the time to receive construction bids.

The board also considered a preliminary resolution (2025-02) proposing sewer service to properties at 2535 and 2625 West Jefferson Street. The resolution was presented with an estimated project cost and with notice provisions the board said were prepared in accordance with IC 5-3-1 and a statute the staff cited in the meeting as the Barrett Law provision governing municipal sewer funding (transcript reference: "IC 30 six-nine-thirty 9 Barrett Law"). The board approved the preliminary resolution and authorized publication of notice; a public hearing on the proposed improvements is scheduled for March 26, 2025. The board noted that Board Resolution 2005-2 establishes a maximum assessment of $6,000 per unit or lot.

Administrative items

The board approved minutes from the March 5 meeting and approved claims in the amount of $2,320,979.04. Each item noted above was approved following a motion, a second and a voice vote recorded in the meeting as "Aye. Motion carries."

Votes at a glance

- Approval of minutes from March 5 — approved (voice vote). - EDA CARES Act revolving loan to REO Holdings LLC, $150,000; 10-year term, 5% fixed rate; authorized president to execute loan documents — approved (voice vote). Presented by Colleen Shaw. - Northeast Water Main Extension pay application #7 to TSW Utility Solutions Inc., $17,220; release retainage $20,000 — approved (voice vote). Presented by John Fikard. - Northeast Sanitary Sewer Extension Phase 2 pay application #2 to Atlas Excavating Inc., $360,020.72; $18,948.46 placed into retainage — approved (voice vote). Presented by John Piper. - Elizabeth Street reconstruction (E2502-1B) specifications/plan approval and bid receipt date set for 03/25/2025 at 10 a.m. Eastern — approved (voice vote). Presented by Darren Metz. - Preliminary resolution 2025-02 proposing sewer service to 2535 and 2625 W. Jefferson St.; public hearing set for 03/26/2025; maximum assessment per Resolution 2005-2 $6,000 per unit/lot — approved (voice vote). Staff cited IC 5-3-1 and the meeting transcript reference to the Barrett Law statute. - Splash pad pay application #2 to Button Bomb and More LLC, $50,000; contract total stated as $344,400 — approved (voice vote). Presented by Troy Riller. - Claims totaling $2,320,979.04 — approved (voice vote).

What the board will do next

The board will receive bids for the Elizabeth Street reconstruction on March 25, 2025, and will hold a public hearing on the Jefferson Street sanitary sewer assessments on March 26, 2025. Where staff cited statutory or resolution authority in the meeting, the board directed publication of notice or authorization consistent with those references; no further policy actions or contingencies were specified on the record.