The City Public Works Shop located at 48 First Street was constructed in 1949 and is not structurally sound in the event of a seismic event. This facility houses city vehicles and equipment that would be used to assist citizens in the event of a seismic event; therefore, it is imperative that it be able to withstand a disaster.
Council diligently considered all options and determined it was in the best interest of the citizens to construct a new Public Works shop facility. Different methods of funding were explored and the public was given the opportunity to share their feedback.
Council approved a utility fee, which allows staff to spread the cost of the new building as evenly as possible to all utility users. Average residential and business customers will be billed $4.82 per month. Apartment complexes will be billed $4.82 per unit, adjusted by the vacancy rate as reported by the Metro Multifamily Housing Association.
The debt term is 20 years. The city expects to be able to prepay a portion of the debt after year eight due to increasing revenue from development, which should shorten the overall time frame of the debt, and subsequently, the fee charged to customers. FMC Chapter 13.13 - Public Works Facility Fee