By JAMES MITCHELL
Sunday Times Newspapers
LINCOLN PARK — City officials hope to shore up the general fund and gain voter approval for a bond proposal to help finance roadwork and infrastructure improvements.
Lincoln Park voters in the Nov. 6 general election will face two local ballot questions for a bond of up to $30 million and a Headlee Amendment override to restore property tax levels.
If approved, the questions combined would represent a tax increase of less than $300 annually for the average homeowner.
The bond proposal will ask voter approval to borrow up to $30 million to be paid over 10 years. The average homeowner would pay about $245 a year; funds from the bond would be earmarked for road and infrastructure improvements.
City Council approved the ballot question in August in an effort to revitalize downtown streets and address residential streets identified for repair work. Funds from the bond could also be put to work on public park repairs.
City officials said that a separate challenge has been annual budget deficits, and in August approved a ballot question seeking an override to Headlee Amendment property taxes. The question seeks voter approval to restore the current 19.33 mill property tax to 20 mills; the average homeowner would see an increase of about $33 annually.
Funds generated by the restored millage rate would be designated for general operating expenses to help maintain current service levels. Current projections indicate the city may face a $1 million deficit for the 2013-14 fiscal year.
(James Mitchell can be reached at [email protected])