Series 2026 loan projects and unfunded capital needs
Summary
The city is borrowing up to $19.5 million at 3.74% to fund the fire station, seawall, stormwater, and utility projects. Two commissioners held out for details on the $6 million freed up from the fire station before voting yes.
At a glance
- Total mentions
- 4
- Last 30 days
- 0
Last discussed Aug 6, 2026.
Impact analysis
Up to $19.5 million in debt at 3.74% interest, repaid from non-ad valorem revenues.
Residents gaining the new fire station, seawall, stormwater, and utility improvements.
Future budgets carry the debt service obligation.
Mentions & discussions (4)
Budget Advisory - Aug 6, 2026
The $19 million Series 2026 loan funds Fire Station 70, the Craig Park seawall, and a backlog of stormwater projects. The Beckett Bridge replacement and the $2.3 million Orange Street road project are now unfunded, with the city's bridge share ranging from $1 million to $5 million depending on a county grant decision.
Board of Commissioners - Aug 4, 2026
Orange Street construction is unfunded, Lime Street brick work ($2.5 million, or $900k as asphalt) has options to weigh, and roughly $5 million in dredging money over two years is at risk. A fall CIP workshop will set priorities.
Board of Commissioners - Feb 24, 2026
The city is borrowing up to $19.5 million at 3.74% to fund the fire station, seawall, stormwater, and utility projects. Two commissioners held out for details on the $6 million freed up from the fire station before voting yes.
Budget Advisory - Feb 19, 2026
The city is borrowing up to $19.5 million at 3.74% over ten years to fund Fire Station 70, the Craig Park seawall, golf course clubhouse, stormwater projects and utility meter upgrades. The Commission takes it up February 24.
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