TO THE EDITOR:
(Editor’s note: The following was also submitted to the Farmington Hills City Clerk.)
I am requesting Item 7 be removed from the Consent Agenda for the Council meeting scheduled for January 28, 2018.
I am requesting the City hold a Public Hearing on Item 7, the request to issue $25 million in bonds that will impact all residents and taxpayers in the City of Farmington Hills.
As I recall the City Council approved the Capital Improvement Plan (CIP) with no discussion by Council members of the $27 million included in the CIP to repurpose Harrison HS into a recreation center. The meeting was held on March 26, 2018.
Certainly the City is interested in full transparency. I recommend a Public Hearing where the City can present a proposed budget for the new facility showing the projected operating costs and projected revenues.
Will revenues include projected fees for use and how will the fees, if any, vary between residents and non residents? Will there be a special rate for residents of Farmington? Will the projected revenues support both operating costs and the payment of principal and interest on the proposed $25 million bond issue? If projected revenues are not sufficient to meet all expenses and bond costs will the shortfall be funded from the general fund and or a request for a millage increase?
Additionally the City can show the budgeted detail construction costs that will include both new construction and demolition costs. The City can also provide details of the expenditures committed to date, the amount expended to date and the source of the funds for the expended funds.
Thanks for your consideration