The Arlington Village Board of Trustees is getting closer to making the road improvements on Ellsworth Street from Fourth to Ninth streets.
At its regular meeting Monday, the board adopted and passed an ordinance, which authorizes the sale and issuance of its general obligation highway allocation fund pledge bonds for constructing and improving certain streets.
The bond will not exceed $1.2 million and will be extended over a 20-year amortization schedule.
"These are bonds that don't have to be issued by voters and are secured by monies from federal highway allocation used for normal street projects," Chairman Paul Krause said. "What we are doing will be nowhere near the $1.2 million. We estimate the price to be under $1 million."
The construction will be in two phases, one phase being Fourth Street to the east side of Seventh Street and the other from the east side of Seventh to Ninth streets. There will be periods when those sections will be closed to traffic and there will be periods where there will be closed access to driveways along those portions of Ellsworth.
JEO Consulting Group advertised for bids this month.
"We're on schedule with adding that additional project length on it," Jon Mooberry of JEO previously told the Citizen. "Whether it gets constructed in 2020 will depend on how bids come in and whether the contractor wants to do it in 2020. We are going to be flexible and allow it in 2021 so we allow ourselves to get multiple bids and the most competitive price for the work."
Construction of Ellsworth from Ninth and Eighth is expected to happen from June to August. The intersection at Eighth and Ellsworth is expected to be open for northbound and southbound traffic by the end of summer.
The board decided at their January meeting to move forward by using highway allocation bonds.
Krause said the board is not sure if the bids for construction expected to come in next week will mean construction this season or work in the next construction season.
There will not be a special assessment on Ellsworth.
According to Krause, the next step is reviewing the 2020-21 Street Improvements for the Village of Arlington bids due Wednesday. At the March 16 board meeting, the board will decide to approve the bid. The approved bid will then go to the bond and the bond will pay for that.
"There's a lot up in the air right now," Krause said.
Now that the board approved the ordinance, the bank goes back to the bond counsel to prepare an official statement, then signs a bond purchase agreement when investors agree to buy the bonds and the rates are locked in, according to Austin Partridge from First National Bank.