The Starkville Board of Aldermen will hold its first public hearing on the proposed budget for the 2013 fiscal year at its 5:30 p.m. meeting today at City Hall.
Mayor Parker Wiseman said it is important that the public view the budget and take the opportunity to offer input during the hearing. The budget is available online at http://www.cityofstarkville.org/detail.php?p=2&s=218 .
“The budget is far and away the most important policy document that is adopted each year. It determines how all city resources are going to be spent over the next fiscal year,” Wiseman said. “That is as important as it gets. I’m very pleased with the budget that will be presented. It does not raise taxes and it is a lean budget. It is a very prudent document, but it is one I am confident will meet the city’s needs for the year to come.”
In other business, the board will consider approving to proceed funding construction of sewer infrastructure to serve commercially zoned areas adjacent to Miss. Highway 25 in southwest Starkville. The project, which has a $1,030,467 price tag, will serve the area annexed by the city in 1998.
Public Services Director Doug Devlin said adding the infrastructure is crucial in assisting potential business owners in the annexed area.
“A lot of times these businesses have lenders through which they applied for loans to build their businesses,” Devlin said. “Many lenders require certification from applicants that public utilities are available to the site.”
The board will consider applying for assistance from the Mississippi Development Authority Capital Improvements Revolving Loan Program (CAP) to help finance the sewer project in an amount not to exceed $1.1 million. Devlin said the program is a useful source of financing for water and infrastructure projects. The current interest rate on a CAP loan is 2 percent on a 20-year-term, Devlin said, and the structure allows the city to act as its own contractor and use local small businesses to construct the sewer infrastructure.
“This is the perfect time to do this project with the interest rates for financing as they are now,” Devlin said.