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City reports status of 2022 and 2024 bonds; dashboard to show project pages soon
Summary
Officials said roughly $71 million in 2022 bond proceeds were issued, with about $30 million obligated and most of the remaining funds earmarked for the police building; officials expect dozens of construction contracts from 2024 bond projects this year and previewed a project-status dashboard.
City staff gave the council a status update on bond programs passed in recent years and previewed an online dashboard to track project progress.
A presenter said the total bond proceeds for the 2022 sale were “a little over $71,000,000” and that about $30,000,000 has been spent or obligated. Of the remainder, roughly $26 million to $27 million is allocated to the police building. The presenter said several projects funded from the 2024 sale are already moving — the second half of academy funding, the new Fire Station 3, work at Fire Station 11, a roof repair at the Barnwell building, and a recently bid elevated tank repair at the port — and that staff expects “some number between 15 and 20” construction contracts to be awarded this year.
Staff also showed council members a near-complete “beta” version of a bonds dashboard that will present a separate project page, status, maps and project manager contact information to let council members and the public follow progress in real time. The presenter said the first public view of the dashboard is expected at a council meeting within two sessions.
Separately, underwriters advised staff to delay sale of a 2021 public-safety bond issue for a few weeks because of market volatility; staff said the delay could push the sale into April with a May closing.
