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Council authorizes Viaduct Park phase-two bids and schedules tax-abatement hearing for bonds
Summary
Council approved sealed‑bid procurement authorizations for two Viaduct Park phase‑two packages (site work and storage garage) and set an April 28 public hearing on tax‑abatement bonds to fund the roughly $3.815 million project.
City parks and project staff asked the council to approve procurement for Viaduct Park phase two and to set a public hearing on tax‑abatement bonds to fund the work. The council approved Resolution 2026‑085 to advertise sealed bids for site work (estimated at about $600,000) and Resolution 2026‑097 for an ice‑resurfacer storage garage package (approx. $200,000), with bid advertisement scheduled for March 25 and opening on April 22.
Staff also summarized a project budget of approximately $3.815 million (roughly $3.6 million construction and $215,000 in first‑year interest and issuance costs) and explained tax abatement bonds differ from general obligation debt: they require identifying parcels within a defined radius (staff identified about 230 parcels within 1,600 feet) whose incremental tax revenue will be earmarked to pay the debt's principal. The council approved Resolution 2026‑082 to set a public hearing on April 28 for the tax‑abatement bonds.
Councilmembers approved the procurement package motions by voice vote and directed staff to proceed with bid advertising and to prepare materials for the April 28 abatement hearing. The council also approved an amendment resolution scheduling bond‑related public process; staff will present detailed bond documents and parcel lists at the hearing.
