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Council hears proposal to finance Merrick Boulevard extension (Ordinance 25‑58); project tied to TIF/NCA revenues
Summary
Council reviewed Ordinance 25‑58 proposing up to $8.5 million in notes to finance construction of the Merrick Boulevard extension. Staff said the debt service will be reimbursed through payments‑in‑lieu/TIFs and by a new community authority; construction bidding is scheduled for late 2025 with work in 2026. Council deferred final action.
City staff presented Ordinance 25‑58 on Oct. 27, proposing issuance of notes up to $8,500,000 in anticipation of bonds to pay construction costs for the Merrick Boulevard extension.
Staff explained this ordinance covers the construction phase and is included in the 2026 Capital Improvement Program. The project is scheduled to be advertised for bids in November, with bids opened near year‑end and construction starting late winter 2026. Staff said the financing plan relies on payments‑in‑lieu (PILOT/TIF) generated in areas such as Lucy Ridge and Parkview and on reimbursements from a new community authority (NCA).
Council discussion highlighted timing and the plan to use PILOT/TIF revenues to reimburse the city. One council member noted that a portion of the NCA will include road maintenance assessed to local property owners. Resident Deborah Geber spoke during public comment, again expressing concern about debt levels. Staff emphasized prior planning to ensure pilot revenues would cover anticipated debt service before advancing the project.
Council did not adopt the ordinance at the meeting and scheduled it for further readings as the financing documents and bid schedule advance.
