Water Street site nearly 'development ready,' more funds allocated for debt payments
All buildings on the site have been razed, and construction crews are beginning to recycle concrete from the structures, some of which will be used in the trail's bed.
City staff is determining where the trail will be located and is seeking a permit from the Michigan Department of Natural Resources and Environment.
City Planner Teresa Gillotti said staff is also working on a plan for temporary use of the rest of the property until development can begin. One idea that has been discussed within city hall is turning the property into a tree nursery for city landscape projects. Funding could come through a forestry grant.
The City Council approved designating $1.08 million of its unreserved fund balance for Water Street debt payments at its Tuesday night meeting. The city made its first debt payment of $475, 988 on May 1. Payments are due bi-annually on May 1 and Nov. 1 through 2031. The recent allotment means the city has roughly $4.6 million dedicated for bond payments, which will last through fiscal year 2014.