City chooses not to bond, continues preliminary work on sixth penny projects
July 20, 2023
While sixth penny projects will not begin construction in Green River until 2024, the city continues to do preliminary work on several of the approved initiatives.
The city of Green River elected not to bond the projects for cost-saving reasons and knowing that there would be work that had to be done prior to starting them. Bonding could allow entities to begin projects sooner, however, at an interest rate cost that would add to the project totals.
The city plans to use their $22 million portion of the sixth penny collections that started in April of this year on those approved street and infrastructure projects.
The initial plan is to begin prepping two projects, Riverview Drive and Faith Drive and Evans Drive, this fiscal year. That includes surveying and Geotech analysis. The city hopes to bid out the projects at the end of this year with an award and construction to start early spring of 2024.
City Administrator Reed Clevenger says the cost savings by not bonding will allow the city to spread the dollars further and possibly deal with the price fluctuations we have seen in the recent purchasing environment.
"We are starting to see the collections of the sixth penny tax and want to thank the voters of Green River for supporting this important funding tool, and we look forward to sharing the project schedule and seeing needed improvement to several streets in the community," Clevenger said.