PORTAGE | The Redevelopment Commission this week pushed forward with the construction of a new street department facility.
The commission approved two resolutions associated with a tax increment financing bond to provide funding for the construction of a new facility on Hamstrom Road. The commission also approved seeking bids for the second, and final, phase of the project.
The project is estimated to cost $4 million, slimmed down from the original $7 million project. The bond parameters will allow the commission to borrow no more than $6 million at an interest rate not to exceed 6.5 percent to be repaid by 2029.
Director of Public Works A.J. Monroe said they will advertise for bids for the construction of the facility between now and July and will likely open bids at the commission's August meeting. Contracts could be awarded in September with construction beginning in October. Construction would be completed sometime next year.
The first phase of the project, which includes building a large gravel/stone type parking lot on the eastern most end of the complex should be completed in the next week or two, depending on weather, Monroe reported to the commission.
That will allow the department to move and store equipment as present buildings are removed or remodeled and new construction takes place.
The idea is to upgrade the facility and to provide indoor storage for all equipment.