Aldermen in the City of Monmouth heard a presentation regarding the municipality’s capital improvement plans, presented by engineering firm Woodard and Curran.
Being discussed was an updated plan of all the capital needs in the city and where the biggest need.
City Administrator Lew Steinbrecher says that the plans included six top priories, which included water main and roadway constructions.
“And what it’s intended to do is to identify, of all the capital needs that we have in the city, to identify the top priorities.”
Steinbrecher tells WGIL that the city identified about five million dollars in need where money could be raised locally.
West Harlem and East Euclid streets are the two top priority projects of the list. Steinbrecher tells WGIL that there are grants available for both of those projects which the city will be applying for.
The City is also pursuing Capital Appreciation Bonds as a funding mechanism for EPA mandated work because the option allows the City to not increase consumer water and sewer rates.
No action was taken but aldermen received their budget presentation for the 2020-2021 fiscal year. Steinbrecher tells WGIL that the two largest funds in the budget provide the most services to the community.
“The budget for next year, which begins on May 1, is 19.2 million dollars. The two largest funds are the water and sewer fund, which is six million and the general fund which is 8.75 million.”
Steinbrecher adds that the budget is about one and a half percent lower than it was last year. The budget is available for public viewing on the city’s website.
