Industrial park map. | Courtesy of the City of Harvard
Industrial park map. | Courtesy of the City of Harvard
The City of Harvard Finance Committee recommended financing for an industrial part addition earlier this month.
The committee deliberated on the possibility that a new building would be added at the industrial park near Lawrence Road. The building is anticipated to be approximately 200,000 square feet. If it were to be installed, the meeting notes state, improvements to roads, sewage and water systems would be required, in addition to a connecting street.
The committee has forwarded the recommendation for refinancing existing debt on the property with an additional $2.5 million in order to allow infrastructure upgrades to be made in support of the additional building proposal. This recommendation was passed in a unanimous fashion.
The committee also held discussions regarding enterprise zone funding and refinancing related to water and sewer bonds. For the enterprise zone, the committee voted to change the budget to allow economic development to spend $55,000 and add $60,000 in revenue from liquor and general licenses.
The committee also forwarded a recommendation for the city to reissue water and sewage bonds. Both this measure and the budget adjustment were passed unanimously.
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