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August 6th Street Improvement Bond Proposal
At the May 9, 2019 regularly scheduled meeting, the Meridian Township Board approved placing a $35 million street improvement bond proposal on the August 6, 2019 ballot. If approved by the voters, the bond proceeds would provide consistent funding to improve all 147 miles of local streets in the Township to a Pavement Surface Evaluation and Rating (PASER) score of 8 (good condition). Currently the local streets have an average rating of 4.48.
The strategic 10-year improvement plan was developed in conjunction with the Transportation Commission and the Township Board to provide adequate annual funding for the local streets in Meridian Township. According to the 2018 Citizen Survey results, only 23% of our residents rated the condition of the local streets positively. The survey also reported that citizens overwhelmingly wanted local street repair to be a major focus.
Existing local street funding is provided through Ingham County’s local match program and Meridian Township’s 0.2479 dedicated local street millage. Combined, these funding sources only provide $600,000 per year for local streets. The current funding need is $3.5 million annually for the next 10 years to get the roads to a “good” condition.
Prior to the approval of the bonding proposal, three (3) options were presented: maintain the 147 miles of local streets with the current level of funding, improve the local streets condition rating from poor to good through a 10-year $35 million bond, or utilize special assessments for street improvements.
At the May 9, 2019 Township Board Meeting, after discussion and public input, the Township Board approved the following ballot language for Meridian Township voters to consider on Tuesday, August 6, 2019:
STREET IMPROVEMENT BOND PROPOSAL
Shall the Charter Township of Meridian, Ingham County, Michigan (the "Township"), borrow the principal amount of not to exceed $35,250,000 and issue its general obligation unlimited tax bonds for all or a portion of that amount in one or more series payable over not to exceed 6 years from
the date of issue of each series to pay the cost of designing, acquiring, constructing, improving, repairing, and maintaining streets and related improvements within the Township?
The estimated millage to be levied in the first year of levy is 1.9428 mills ($1.9428 for each $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds over approximately 10 years is 1.9429 mills ($1.9429 for each $1,000 of taxable value).