Your money at work

A public infrastructure bond approved by Grand Haven voters in 2007 has paved the way for countless improvements in the city in recent years. "It has worked out very well for us, and we have been watching our expenses on it very regularly,' City Finance Director Jim Bonamy said.
Alex Doty
Apr 9, 2012

 

Voters passed a $9.4 million bond issue for improvements in November 2007.

The bond is being paid back through a special property tax levy of 1 mill for up to 20 years. As a result, a home with a market value of $100,000 is taxed an additional $50 a year.

“The bond was originally created due to the workings of the Infrastructure
Task Force,” Bonamy said.

The task force was created because city officials identified more than $38 million in projects that needed to be worked on. Bonamy said the projects consisted primarily of streets, sewers and water main repairs and replacement. It was not used for the downtown reconstruction project.

With millions of dollars worth of projects out there, the task force was tasked with coming up with ways to fund improvements.

Bonamy said the task force originally pushed for up to 2 mills be added to city property taxes to fund a $31 million fix-up plan. This proposal was rejected by city voters in 2005.

Projects that have been completed thus far as a result of the 2008 bond sale include work on and under Sherman, Waverly, Beechtree and Jackson streets east of U.S. 31.

Projects being worked on or in the pipeline include Harbor Drive near the state park and improvements on Beacon Boulevard.

To read more of this story, see today’s print or e-edition of the Grand Haven Tribune.

 

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