City OKs funding to repair building

5/14/2008

Another building on Louisiana Avenue is getting spruced up, thanks in part to a $12,315.50 grant from the Downtown Improvement Program that Perrysburg City Council approved last week.

The building, at 214 Louisiana, is owned by James Delph and Ray Corrigan. The grant represents a 50 percent reimbursement for exterior brickwork, cleaning, and repairs.

Funding comes from rents from city-owned properties.

At last week's meeting, council also authorized the rollover and issuance of about $9 million in one-year notes, mostly for wastewater treatment plant expansion and sewer projects.

Finance Director David Creps told council members the city was paying an effective rate of 2.125 percent for the borrowing.

He added that for the first time, the notes were rated by Moody's Investors Service. The bond-rating agency gave the notes its highest rating of MIG 1 and the city itself AA3. The high ratings mean the city paid less to borrow.

Councilman Tim McCarthy informed his colleagues that a developer had requested reconsideration of a rezoning request on 4.9 acres on Roachton Road west of Fort Meigs Road that council turned down in March.

Forrester Wehrle Homes wanted to build five apartment buildings and had the support of the city's planning commission. The matter had been scheduled for a vote. But it was pulled at the developer's request to examine the possibility of building a street through the property that would be turned over to the city.

Such a street, which would replace a driveway, would alleviate concerns about directing traffic onto Fort Meigs Road right across from Perrysburg High School.

Mr. McCarthy said the planning and zoning committee, which he chairs, was unanimous in its recommendation that the rezoning be approved.

In other action, council

••Approved $10,000 in funding for the Perrysburg Area Arts Council.

••Authorized a $647,279 contract with Underground Utilities Inc. for the Cherry Street sewer separation project.

••Approved a $720,413 contract with Hanks Plumbing for the first phase of the Maumee River interceptor replacement project.