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Southwest Ranches council votes to pay off bond from CCA sale and prioritize fire‑station funding
Summary
After a council timeline presentation of the Corrections Corporation of America property sale, council moved and unanimously voted to use sale proceeds to pay remaining bond debt and to prioritize use of any remaining net proceeds for a public safety (fire station) property and construction.
Council member Russell presented a 31‑year timeline of the town's dealings with the former CCA property and announced the July 20 closing that brought $16.8 million to the town. Russell then moved that the town immediately pay off remaining bond indebtedness and declare Southwest Ranches debt free; the motion was seconded and approved on a unanimous roll call.
"Accordingly, I would like to be the 1st to make a motion that the town immediately paid off pay off its remaining bond indebtedness and officially declare Southwest Ranches a debt free municipality," Russell said before the council vote. Council members discussed adding an amendment to consider using any net proceeds for acquisition and construction of a fire station and agreed to prioritize paying debt first, then evaluating fire‑station funding and potential grants.
The mayor called the roll; all five members voted yes. Staff told the council they expect the sale proceeds to cover the payoff and that any remaining balance would be reviewed against the cost estimate for a public‑safety building and potential outside grant support. Council asked staff to return with specific cost estimates and to spell out scenarios for how much, if any, of the net proceeds would be applied to the fire‑station acquisition and construction.
