Fountain Green holds final public hearing on city hall and fire station
By Doug Lowe
FOUNTAIN GREEN—The city’s big plans to finance a combined city hall and fire station building on the southwest corner of State Street and 400 North were aired at a public hearing Aug. 15.
Early in the evening, a public hearing held prior to the regular city council meeting addressed the authorization of a bond issue securing a construction loan, of $1,100,000 for 30 years at 1 percent interest, approved by the Community Impact Board (CIB) during their April meeting in Salt Lake City.
At that meeting, after Fountain Green’s leaders presented their request, the CIB also approved a $2,155,000 grant, involving no repayment, for construction of Fountain Green’s planned administrative offices and fire station facility.
At Thursday’s public hearing, discussion of the financial arrangement included details regarding the purchase of three vacant one-half-acre lots on the corner of State Street and 400 North, as the construction site, and the sale of the current city hall building, for $330,000, to a buyer who has already given a letter of intent to the city.
All proceeds from the sale of city hall are to be reserved strictly for making the required CIB bond payments until such time as three current bonds have been fully paid off, and the funds previously budgeted for payment of those bonds can then go toward the new CIB bond.
During the hearing, Mayor Willard Wood expressed great appreciation for “how much time the CIB’s members gave us and how willing they were to bend over backwards to figure out a way we could stay within budget and get the funding we needed.”
Other council members, who had helped present the city’s request to the CIB, enthusiastically agreed with the mayor’s appreciative comments.