The Hanover City Council heard from a financial consultant regarding options to sell bonds to pay for city improvement projects.
Such projects could include road repair, upgrading the public works facility and other capital improvement planning.
Consultant Doug Green reviewed cost estimates of how taxes would be affected if the city sold bonds.
Administrative assistant Brian Hagen later said of Green’s presentation: “If we sell bonds for x amount, taxes would go up for y amount. Do we sell bonds or continue to fund the projects the way we have? Do we try to go away from assessments? The city council is looking at all options available. They want to go with the one that impacts residents the least.”
Mayor Chris Kauffman and the council made no decisions on the matter, but is expected to consider looking at the options.
“What’s next? More homework on staff’s part,” Hagen said. “We’ll let the city council digest that information and try to get some more accurate numbers of what projects would cost.”
One of those projects includes expansion of the public works facility. City clerk Annita Smythe will get some more accurate numbers about upcoming city projects ahead of future council discussion.
In other action, the council:
HEARD from city engineer Justin Messner that the Hennepin County Rd. 19 trail right-of-way acquisition is close to being completed. In the next few weeks the city will advertise for bids and get out the bids in March for construction in spring or summer. The County Rd. 19 trail will extend west from the park reserve to the Historic Bridge, and connecting to the Wright County system.