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Livonia council backs $5 million bond release for Sheldon Park redesign
Summary
Council approved on consent the release of $5 million in limited tax bonds to fund improvements at Sheldon Park, including splash pads, playgrounds, fields and a pavilion; the Plymouth Road Development Authority will cover 45% of repayment and DLZ’s $350,000 design cost will be reimbursed from proceeds.
Finance Director Benjamin Greer asked the council to release $5,000,000 in general obligation limited tax bonds on Nov. 17 to fund design and construction of Sheldon Park improvements. Greer said the city will repay roughly 55% of annual debt service from budgeted funds while the Plymouth Road Development Authority (PRDA) will pay the remaining 45%. He told council…
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