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City reports Chapter 100 bonds closed and $2 million deposit; council considers reinvestment priorities
Summary
Staff said Chapter 100 bonds closed on July 29 and a $2,000,000 deposit arrived in the city's account; council members discussed directing funds toward parks, crosswalk safety, debt reduction or retirement funds.
Staff reported that Chapter 100 bonds closed on July 29 and that funds have been deposited into the city's account. A council member announced, "I can tell you we just saw $2,000,000 deposited in the account," and suggested using part of the funds for park improvements, crosswalk safety, debt-reduction or retirement-fund obligations.
Council members discussed possible allocations, including a recurring fund to ensure ongoing benefits even if the data-center project does not proceed, using money for Ashland Meadow engineering and to address basements in a flood-prone area. Members also raised pedestrian-safety projects and the need to coordinate with MoDOT on crosswalk improvements and lighting on Highway 47.
Staff said the vetting committee will meet applicants on August 12 and aims to have recommendations for the August 18 council meeting. No final allocations were approved at the meeting; council members asked staff and the park board to return with options for how to use the deposited funds.
