The Houghton City Council will consider reauthorizing the sale of $1.5 million in bonds to raise part of the money needed to demolish the aging downtown parking deck at tonight’s meeting.
The sale was originally approved 11 months ago, but was dated to take place in 2022. Since that didn’t happen, that wording will need to be changed.
Additionally, in a letter to council members, City Manager Eric Waara noted that inflation is pushing the price of the demolition upward. An estimate prepared last fall anticipated a cost of $2.1 million. More recent estimates have placed the cost at $2.5 million or more.
The Michigan Economic Development Corporation is providing $1 million dollars to help with the project.
Last year’s bond sale resolution was for “up to $1.5 million,” depending on how much would actually be needed. The new resolution would authorize the entire amount, and Waara notes that additional city funds may also be required to complete the project.
Council members will also discuss the potential for merging the Houghton and Hancock Public Transit systems this evening.
Tonight’s council meeting will be held at the city center. It will follow a brief meeting by the Zoning Board of Appeals at 5:30. The Zoning Board will appoint a chairperson, and set a public hearing for a variance request.
For online access to tonight’s meeting, click here. Note that audio quality provided from the last few meetings has been very poor.