June 4, 2007

Winsted remains optimistic abo ut bonding options for new city center

By Ivan Raconteur
Staff Writer

The tax bill that included legislation that would have given the City of Winsted bonding authority for the new city center project was vetoed by the governor last week, but the city may still have some options.

City Administrator Brent Mareck said a bid opening for the project is set for 2 p.m. Tuesday, June 5, and the bids received will help to determine the city’s next step.

“The city can still bond for parts of the project, or potentially the whole project, depending on the bids that come in. We are going to be creative,” Mareck said.

He added that a lot of contractors took out bid packages for the project, and the city expects to see a lot of bids and a competitive bid process.

“We are optimistic,” Mareck said.

The Winsted City Council will conduct a public information hearing Tuesday, June 5 at 6 p.m. in the Winsted City Hall Council Chambers, to review the City Center and Lakefront Promenade project.

“We have had a lot of support for the project, and the city council wants to move forward,” Mareck said.

The bill that would have allowed Winsted to issue general obligation bonds for the project under Minnesota Statutes chapter 475 was part of a larger tax bill which was approved by the Minnesota House and Senate, but vetoed by the governor because of a “poison pill” attachment that would have restored an automatic across-the-board cost-of-living increase to the state budget formula.

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