Road Construction Update

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4th Street Underpass Project

$27.9 million in General Obligations bonds were approved in June of 2018 for the 4th Street Underpass project. There are multiple phases to this project and there is no deadline for the project completion. The engineering and property acquisitions have begun and are ongoing. The City is currently in the property acquisition phase which originally started over a year ago with appraising the properties impacted by the project. It’s likely this process could take another year and construction would then begin around summer of 2022. Once construction does begin, it’s anticipated the project will take around 2 years to complete. 

It’s important to remember that we are only issuing the bonds as they are needed. To date, $5.7 million of the total $27.9 million has been issued for engineering costs, property acquisition and reconstruction of Turner Ave. The City has approved an agreement (Resolution No. 988(21)) with ODOT and BNSF where ODOT will provide up to $10M in funding for this project. This agreement makes it much less likely that we will issue the full amount of $27.9 million for this project. However, how much less we cannot say at this time.  All unissued bonds would therefore not show up on the property tax rolls.

Resolution 988(21) rev.03/22/21