Decatur City Council pursuing $10 million line of credit for future projects
DECATUR, Ala. (WHNT) – Decatur city leaders are planning big things for the River City in terms of roads and recreation.
Monday, at their regular meeting, the Decatur City Council took the first step towards setting up what they call a “cash management tool” to help. Right now, it’s a bumpy drive down Spring Avenue in the rain, with patches and puddles all along the roadway.
But brighter and smoother days are ahead. Spring Avenue is one of many spots in Decatur that will get some attention from planned improvement projects city leaders are trying to expedite by setting up a $10 million line of credit from PNC Bank.
“It makes a lot of sense with all the projects that we have going on in the city right now,” said Gary Hammon, Decatur City Council President.
Hammon voted to approve a list of projects around the city, including widening and repaving Spring Avenue. The council must approve the projects the city wants to do before they can secure the tax-free line of credit to help finance them.
“We could use that for a cash flow tool,” said Decatur Mayor Don Kyle.
Kyle says it’ll save the city money in fees as they coordinate projects including repaving residential streets, resurfacing the original slides at point mallard, and getting major road projects underway.
“Some of those are road projects that use federal highway funds and we’ll pay 100 percent of the cost on the front end, but we’ll be reimbursed 80 percent on the back end,” said Kyle.
He explained the council will take the issue up during their next meeting and vote on it, assuming there aren’t any bumps in the road.
Councilman Billy Jackson voted it down.
Among other things, Jackson was concerned there was no study or assessment done to make sure this is the best plan for the city.