Line of credit vote on council’s agenda
A $2 million line of credit requested by the city administration is among the items on city council’s agenda tonight.
The request is for a two-year line of credit with a local bank to provide cash for the city projects while it waits for reimbursements from grants for these projects, said William E. Nichols Jr., city finance director and general manager of River Valley Transit.
Without the line of credit, the city wouldn’t have the cash from general funds to cover the cost of projects, such as stormwater management upgrades and other infrastructure improvements and economic developments, Nichols said.
Council will vote on vacating a portion of Franklin Street as part of the East Third Street/Old City Gateway.
Council also will vote to change the name of College Place to Warrior Way and to designate Lycoming College Boulevard.
Council is expected to vote on a $200,000 Greenways, Trails and Recreation Program Grant the city was awarded to rebuild Memorial Park playground. The playground will be all-inclusive for all users, including people who are differently abled.
The city six-year capital project budget is expected to be voted on final reading.
The budget of $97 million includes projects that are able to be done over the next two years. These include stormwater upgrades and vehicle and equipment purchases for the police and fire departments as examples cited in the report.
The meeting is at 7:30 p.m. in council chambers.