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Berwyn committee discusses bonds, state grants and member-initiative funding for pool
Summary
Committee members reviewed financing options for a new or replacement Berwyn pool, including competitive bond sales, state grants such as OSLAD, and member-initiative funds; participants estimated a project range roughly between $15 million and $20 million and discussed timing and referendum thresholds.
Committee members spent a substantial portion of the June 3 meeting reviewing how a potential pool project could be financed.
Mike — who presented an educational overview of public financing during the meeting — recommended a competitive bond sale for the city rather than a negotiated sale, saying competitive processes typically attract multiple bidders and can produce lower interest rates. He said Berwyn has historically maintained a solid credit profile and that, based on comparable projects, “I'm guessing somewhere in the 15 to 20 million dollar range” for a full replacement or large expansion.
The group discussed the difference between non-referendum and referendum bonding authority; the meeting recorded a general rule-of-thumb that lower-dollar issues (often under roughly $1 million) can be issued without voter approval, but speakers said the precise non-referendum capacity depends on the city's debt-service extension base and should be confirmed with city finance staff.
Speakers identified several grant opportunities to reduce local costs. The OSLAD state park grant was discussed as a typical funding source for park projects, and one speaker noted that a park grant example used in discussion was “about $2 million.” Committee members also discussed member-initiative funding (legislator-allocated funds that may not require matching) and federal community project funding as more speculative but possible sources.
Members emphasized that grant cycles can be lengthy (one participant noted that OSLAD applications typically open in July and, if awarded, money may not be issued for a year to 18 months), and advised including grant-writing support as part of the RFP so proposers can prepare shovel-ready materials for grant applications.
No formal funding decisions were made; the committee instructed staff to incorporate financial-analysis deliverables into the RFP so proposers will provide more precise cost and funding scenarios.
