City Facilities Project
On June 2, 2021, the City of Dexter issued $2,500,000 in Capital Improvement Bonds for the purpose of acquiring, renovating, and/or improving City Office facilities. The repayment of the bond is set to take place over a 20-year period and adds approximately $80,000 in debt repayment to the City’s General Fund ($36,222.95 in 2022 up to $85,397.25 in 2027). This amount is forecasted to be achievable in the City’s General Fund without increasing the current general operating millage rate or increasing taxes to the City's residents.
Timeline of Events:
- January 25, 2021 and February 8, 2021 - City Council discussed various potential locations for new City Offices. Council Agenda Packet
- February 22, 2021 - Dexter City Council gave authorization to enter into a Purchase Agreement for property located at 3515 Broad St. Council Agenda Packet
- February 26, 2021 - Purchase Agreement was signed, and the due diligence period began.
- March 22, 2021 - City Council approved the publication of a Notice of Intent to Bond and authorized a contract for building inspection services for 3515 Broad Street. This Notice gave authorization to publish a public notice that the City intended to issue capital improvement bonds. This Notice was published in The Sun Times News on March 31, 2021. Council Agenda Packet
- April 12, 2021 - City Council approved a series of proposals for due diligence services, including contracts for the performance of a survey, an appraisal, a building inspection, and an environmental survey. Council Agenda Packet
- May 1, 2021 - The City issued a Request for Information (RFI) for Use of Space at 3515 Broad Street. The purpose of this RFI was to gather community feedback regarding the potential for public use of spaces on the property.
- May 24, 2021 - City Council approved a resolution to authorize the sale of capital improvement bonds for City Offices. Council Agenda Packet
- June 9, 2021 - City Council approved a motion to amend the Purchase Agreement to reduce the purchase price to $1,906,000. Council Agenda Packet
- June 14, 2021 - City Council is scheduled to consider a resolution to permit the City to close on the purchase of 3515 Broad St. Council Agenda Packet
- June 26, 2021 - The 120-day due diligence period per the City's Purchase Agreement ends. Council Agenda Packet
If City Council directs staff to close on the purchase of 3515 Broad St., the next step after acquisition will be a construction project to remodel the facility to improve access, correct priority issues identified by Partners in Architecture during their site assessment, and define spaces within the building for use.
Related City Council agenda packets, minutes, and meeting video recordings can be found HERE (Click 2021 to drop down).
Additional information regarding the City of Dexter's activities with regard to facilities can be found HERE.