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Clearlake council signals support for 13‑year Measure V financing to accelerate road work
Summary
After presentations from the finance director and NHA Advisors, council signaled consensus to pursue a financing plan using Measure V revenue—aiming for roughly $15 million in projects over a 13‑year term with annual debt service up to $1.5 million—and authorized staff to negotiate term sheets with banks.
Clearlake councilmembers and staff agreed on direction to pursue debt financing to accelerate a multi‑year road‑maintenance program, asking staff to negotiate term sheets and bank solicitations while returning later with final financing documents.
Finance Director Kelsey Young told council the city is considering two basic strategies: continuing PAYGO at roughly $1.5 million per year that would spread $15–18 million in projects over 13–15 years, or debt financing that would…
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