In case you missed it in last week’s City Council Recap, council members voted unanimously on Tuesday to authorize Mayor Lioneld Jordan to issue up to $6.5 million in bonds to finance a downtown parking deck.
Still, it could be a year before any construction begins (see estimated timeline).
Project manager David Jurgens recently said it could take three months to hire a consultant to perform a preliminary site assessment, a task that he said would take six to eight weeks to complete.
Once those results are in, which include evaluating the geological stability and associated costs of at least four sites, the City Council will again review the plan before deciding on a design consultant and contractor.
Of the money raised through bond debt, city finance director Paul Becker said that the project would likely only require borrowing roughly $6.25 million.
After debt service costs, underwriting and other fees are paid, Becker estimated that about $5.5 million would be available for actual deck construction.
Details of the deck are still being discussed by Mayor Jordan’s self-assembled parking deck committee, which will meet again on Nov. 23.
There was no public comment during Tuesday night’s discussion.
