Fairview authorizes up to $2.75 million in short‑term notes for storm recovery; officials expect FEMA reimbursement

The Fairview Board of Commissioners unanimously approved Resolution 26‑25 April 16 authorizing the issuance of tax and revenue anticipation notes of the city in a principal amount not to exceed $2,750,000 to cover storm‑related costs.

City leaders discussed updated estimates showing lower than expected debris cubic yards after choosing not to re‑work streets that already had been picked up. Officials said that if the issuance is larger than ultimately needed, unused proceeds would reduce interest expense after sale and that FEMA relief funds are expected to reimburse a substantial portion of eligible costs. During discussion staff and a financial advisor explained that the city expects FEMA reimbursement timing to coincide with note maturities and that roughly 75% of eligible costs are expected to be reimbursed (as discussed in the meeting).

Commissioners also reviewed project‑level progress on park repairs and storm cleanup; Mayor Anderson and Commissioner Roberts described close coordination with monitoring and securities advisors and said the city has contingency measures if FEMA timing or amounts differ from projections.

The resolution passed on a 5‑0 vote. The board asked staff to continue monitoring debris estimates, finalize note terms with the city’s financing team, and report back if the borrowing amount or schedule changes.