Tuesday, December 12, 2017
   
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Tax hike will pay for bond projects

The cost for mandated repairs to Brady’s wastewater collection site came in well under the $1.7 million originally projected.

With a grinder for the influent pipe at the lift station that village board members approved during the May 11 regular monthly meeting, the total cost for lagoon repairs and lift station updating will come in at roughly $763,000.

A Community Development Block Grant for $235,000 leaves the village bill at about $528,000.

Citing the savings, village trustees have decided to move forward with a paving and drainage improvement project estimated at $400,000.

The village will finance both projects with bonds. The combination of the 20-year bonds for the lagoon repairs and 15-year bonds for the streets are expected to raise residents’ property taxes roughly $400 a year per $100,000 in value.

 

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