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ROSEVILLE – A new splash pad, library updates and renovations at both fire stations could be in store for the city of Roseville.
But it all depends on an upcoming bond proposal.
Residents will vote on a municipal facilities bond proposal on the Nov. 7 ballot that, if passed, will generate funding through taxes for several building updates in the city.
If it passes, the proposed bond would address the following: repairs to both fire stations, building enhancements at the Roseville Public Library, improvements to the Department of Public Services building, and upgrades to the 39th District Court. If passed, the new bond also will provide funding to build a splash pad in the city, as well as generate dollars for park improvements.
If the bond initiative passes, City Manager Ryan Monroe said, city officials will “start breaking ground” on the projects in 2024. The bond is for 30 years.
Some of the projects will include an addition to the DPS building and a new roof at the fire station headquarters at 18750 Common Road. Monroe said that renovations at both fire stations are needed because, when the buildings were built 50 years ago, there weren’t any female firefighters. The city’s second fire station is located at 17644 Frazho Road.
“We’re an older community. Since (the recession of) ’08, we haven’t been able to do a lot of big things for our residents,” Monroe said.
As for the splash pad, it’s still undecided where in the city it would be installed.
“Rotary Park possibly, Huron Park or Memorial Park,” Monroe said. “All that would have to be looked at.”
If residents vote in favor of the bond proposal next month, the new bond will replace the existing Chapter 20 millage for stormwater repairs that passed 30 years ago.
“All that debt has been paid back,” Roseville Finance Director and Controller John Walters said. “We’re replacing it with this capital needs (bond). Once the new bond is passed, we’ll lock in an interest rate.”
The interest rates can change due to market conditions. The bond proposal was developed by city officials and presented to the voters for approval. When a bond proposal passes, the bonds are sold in the capital markets at a date determined by the city, a financial adviser and an underwriter. Upon closing, funds generated from the bond sale are deposited in the city’s construction fund and are available to spend for completion of the projects contemplated in the bond proposal.
“The city guarantees a loan, and we’ll pay off the interest over the next 30 years,” Monroe said.
The new proposed bond, if passed, averages .744 mills per $1,000 of taxable value per year. The taxable value is the value used to calculate property taxes.
The previous Chapter 20 millage was 1.0 mills per $1,000 of taxable value per year. According to city officials, while the new bond will still tax residents, the tax rate will be lower than the Chapter 20 bond.
“Our residents will pay a little bit less in taxes,” Monroe said. “If this bond rate is voted in, they’ll see a little reduction.”
As an example, a family whose home is worth $125,000 with a taxable value of $62,500 would pay approximately $45 per year under the municipal facilities bond. That is $19 less than the same family paid under the Chapter 20 bond, which was $64.
For more information on the bond proposal, call City Manager Ryan Monroe at (586) 445-5410 or visit the municipal facilities bond proposal information page at roseville-mi.gov.
