MOUNDSVILLE, W.Va. (WTRF) — It’s been three years in the making and the biggest project the city of Moundsville has ever seen.
And on Tuesday night, two special sessions were held in council chambers to help move it all forward.
The city building commission approved the authorization of the supplemental bonds at $9.5 million dollars and in a seperate special session council members approved the same supplemental resolution.
According to City Manager Rick Healy, the new city building will cost approximately $10.6 million dollars to construct with a total price tag at around $12 million which includes engineering and architectural fees as well as demolition and furniture costs.
Healy wants Moundsville city taxpayers to know that the new building will be at no cost to them.
We have authorized up to $9.5 million dollars in bonds. So, we will have a debt service on those bonds that will be paid solely from profits from the 1% sales tax which means that they’ll be no direct taxation to residents. There will be no user fees. there will be no rate hikes to cover this. It will all be paid out of the 1% sales tax.Rick Healy, Moundsville City Manager
Healy says the city will pull funding from the capital expenditure account that will cover the balance of the building.
He says the city has been budgeting for the project.
The city breaks ground on the new building sometime this August.
Healy says it will take 12 to 15 months to complete.