Jonesboro, AR – (JonesboroRightNow.com) – Sept. 19, 2024 – City Council approved a resolution Tuesday to begin research on revenue bonds to fund various city improvements as part of the Capital Investment Plan.
The Capital Investment Plan is broken down into several categories. The Public Safety and Infrastructure categories are mostly funded by these bonds. The Quality of Life and Smart Growth categories are funded by American Rescue Plan Act funds. The total estimated for all four categories is $25.75 million.
Only the bond-funded categories were voted on this week.
The approved resolution is an authorizing resolution, meaning the bonds have not been approved and will be voted on in an ordinance later.
The bonds total $17.5 million, with an extra $1 million allocated to allow for interest rates bringing overall costs to $18.5 million. The bonds would be repaid over 20 years.
Proposed infrastructure projects include expanding Caraway Road from two lanes to five from I-555 to Fox Meadow and includes intersection improvements at Fox Meadow and Caraway. The proposal also includes 1.5 miles of sidewalks that will eventually connect to Craighead Forest Park.
Additionally, the infrastructure category will fund biking and walking trail connections that can be completed within the next three years. Prioritized projects include trails on the Marion Berry overpass, downtown to I-555/Washington Avenue, and more.
The infrastructure plans total $11 million.
The bond revenue will also fund a public safety center hosting E-911 and other police services. It allows for the purchase of land next to JPD headquarters and is estimated to cost $6.5 million.
Four million dollars of Congressional appropriations will be used to secure communications and analytics equipment for the center.
The authorizing resolution passed 7-3 on Sept. 17. (FOR: Ann Williams, Brian Emison, Chris Moore, Dr. Chales Coleman, Janice Porter, Joe Hafner, John Street. AGAINST: David McClain, Dr. Anthony Coleman, LJ Bryant. NOT PRESENT: Chris Gibson, Mitch Johnson).
The bond resolution will go to a public hearing Sept. 30.
