Bond to support borough building
The Jan. 25 workshop meeting of the Catasauqua Borough Council began with a presentation by Gary Pucini on the process to obtain a revenue bond to secure funding for the borough’s proposed municipal building on the Iron Works property.
“It is a good two- to three-month process,” he said.
Essentially, once the borough has a firm estimate on costs, Pucini can start his action.
Councilwoman Debra Mellish suggested the borough wait to start bond funding until after contractor bids are received.
Pucini objected on two grounds.
First, some contractors would decline to bid because the funding is not in place. Second, the timing could delay the project.
“When we go out for bonds, we don’t want to be short of funds,” he emphasized.
Pucini suggested including another project or two in the funding. If there was a cost overrun at the municipal building, money would be available to see the project to completion. If costs are less than anticipated, another project, say a street improvement, could be completed.
Council will take action on the bond financing after obtaining more accurate estimates from the municipal building architect.