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Sanford, NC 27331

 
 
 

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TIMELINE

  • April 1, 2015: Finance Director Beth Kelly asked Sanford City Council to consider appropriating money from Fund Balance for bond projects. The City would then reimburse itself from the bond issuances. (Minutes, page 1)

  • February 25, 2015: Finance Director Beth Kelly reported to Sanford City Council that the City would pursue bond financing with First Citizens Bank due to its low interest rate and favorable terms. (Minutes, page 2)

  • February 11, 2015: Sanford City Council was asked to consider awarding the Downtown Sanford Streetscape construction project to Fred Smith Company for $4,746,856. Fred Smith Company also came in lowest for downtown Jonesboro at $2,663,972.50. City recommended awarding sidewalk projects to Sandhills Contractors. Sidewalks were put to bid in two categories. Bid A came in a $776,989.60 and Bid B was $372,071. (Minutes, pages 2-5)

  • January 30, 2015: A Strategic Asset Value meeting was held in the West End conference room at City Hall. The meeting was the first step in Brailsford & Dunlavey's process of determining the feasibility of a multi-sports complex. (Minutes)

  • January 28, 2015: In an interlocal meeting, City Manager Hal Hegwer and Mayor Chet Mann updated Lee County of the timeline and placement for sidewalk projects. (Minutes, page 1)

  • January 20, 2015: Sanford City Council held a work session to discuss bids received for the sidewalk and streetscape projects, including a $470,000 shortfall for sidewalks. (Minutes, pages 1-5)

  • January 27, 2015: The City received high ratings from Moody's and Fitch Ratings. Bank of America Merrill Lynch then purchased the bond debt at a true cost of 2.3501%. (Press release)

  • January 6, 2015: At a work session, Finance Director Beth Kelly shared with Sanford City Council that ratings would be back soon, and so the City's plan was to sell streetscape and sidewalk bonds on January 21. The sale would close on February 12 and funds would be received on February 13. (Minutes, page 1) City Engineer Paul Weeks and Public Works Director Vic Czar updated Council about the plans for the next steps in the projects. (Minutes, pages 2-8)

    At the Council meeting after, Council approved a resolution to issue $8,500,000 general obligation public improvement bonds to cover streetscapes, pedestrian improvement, and sidewalks. (Minutes, page 3)

  • December 16, 2014: Finance Director Beth Kelly reported to Sanford City Council that she was still answering questions from the rating agencies. She expected to recieve ratings by the end of the year. (Minutes, pages 12-13)

  • December 11: Mayor Chet Mann, City Manager Hal Hegwer, Public Works Director Vic Czar, and Financial Services Director Beth Kelly traveled to New York City to present the City of Sanford to rating agencies. The rating agences were Moody's Investors Services, Fitch Ratings, and Standard & Poor's.

  • December 2, 2014: Sanford City Council approved an official Fund Balance Policy, which was needed to put the city of Sanford in the best position to receive good ratings from bond agencies. The rating was needed to enter the bond market. (Minutes, page 8)

  • November 4, 2014: City Council untabled the feasibility study and voted to award the contract to Brailsford & Dunlavey. (Minutes, page 3) City Council also agreed to enter into the sidewalk agreements with NC DOT. (Minutes, pages 5-6)

  • October 29, 2014: City Council heard presentations from the Lee County Parks Foundation and Brailsford & Dunlavey, the firm recommended by the City to complete the multi-sports complex feasibility study. (Minutes, 1-8)

    Later in the meeting, City Engineer Paul Weeks asked Council to consider an agreement with NC DOT to determine the best placement of street lights and pedestrian heads in Jonesboro for the streetscape bond project. (Minutes, page 11)

  • October 7, 2014: City Council tabled consideration of the feasibility study until they could be presented with more detailed information. (Minutes, page 7)

  • October 1, 2014: City Manager Hal Hegwer asked Sanford City Council to consider using the park bond funds to help construct a multi-sports complex. The first step would be to hire a firm to conduct a feasibility study that would examine potential sites, competitors, etc. (Minutes, pages 2-4)

  • September 16, 2014: City Manager Hal Hegwer gave a bond projects update. Tentatively, bidding on streetscape and sidewalk bond projects would open in October 2014 and projects would begin in spring 2015 rather than summer 2015. Greenway and park bond projects would be on the horizon with completion by 2017. (Minutes, pages 3-4)

  • September 10, 2014: The City of Sanford asked Council to enter into an agreement with NC DOT for two sidewalk bond projects: Horner Blvd from Weatherspoon Street to Main Street and a Nash Street-Bragg Street connection that would extend to Horner Blvd. (Minutes, pages 2-3)

  • August 27, 2014: Community Development Director Marshall Downey recommended that Sanford City Council remove the stoplight at Wicker and Steele streets during the Streetscape & Pedestrian Improvement bond work to force traffic to slow down and create a more pleasing look to downtown. Removal of the traffic sign would also save the City $125,000. (Minutes, pages 2-3)

  • July 9, 2014: The NC Department of Transportation awarded the City of Sanford a $300,000 grant to help complete sidewalk work as outlined in the Sidewalk Bond Project. (Minutes, page 5)

  • April 30, 2014: Public Works Direct Vic Czar gave an update to Sanford City Council about the progress that had been made in the bond projects. He discussed what work consultants had finalized and let Council know how things were progressing with Duke Energy. The timeline shared was that bids would be accepted in October 2014 with an anticipated start date of March 2015. Financial Services Director Beth Kelly explained that the City would need to take bonds to the market during this time period. (Minutes, pages 1-4)

    Later in the meeting, Engineer Paul Weeks asked Council to reward contracts for the bond projects. (Minutes, pages 7-9)

  • January 21, 2014: At a Council retreat, City staff presented a bond project powerpoint. Staff recommended that Council group projects together. This would allow them to go to the bond market twice rather than four times. The suggested grouping was streetscapes and sidewalks first, followed by greenways and parks. (Minutes, pages 1-15)

  • November 2013: The City's Engineering and Planning departments begin working with third parties to prepare for moving utilities underground for optimal scheduling of each project. This pre-work is anticipated to take at least six months to one year.

  • October 15, 2013: Sanford City Council passed a resolution that certified the results of the bond referendum and authorized the City to issue $4,000,000 in General Obligation Greenway Bonds; $6,500,000 in General Obligation Streetscape Bonds; $2,000,000 in General Obligation Sidewalk Bonds; and $2,000,000 in General Obligation Parks & Recreational Bonds. (Minutes, page 2)

  • Sept. 10, 2013: Voters in the City of Sanford passed four individual bond items by a majority vote. Full details here.

  • July and August, 2013: Bob Bridwell, director of Planning & Community Development, and Kelly Miller, public information officer, presented information about each of the bond projects to local civic and leadership groups, as well as at the Enrichment Center. View their presentation here.

  • July 10, 2013: During a Law & Finance meeting, Council member Sam Gaskins proposed that moving the referendum to the primary ballot on September 10 would engage more citizens in voting and result in a larger turnout. Though no primary was scheduled, Council member Poly Cohen indicated that he would run for re-election, which would result in a primary. (Minutes, page 7)

  • June 18, 2013: Council held a public hearing on the bond referendum. Council resolved to notify the Board of Elections about the potential for a bond referendum. (Minutes, pages 3-6)

  • June 17, 2013: At a budget retreat, Council further discussed the bond referendum, including whether to hold it this year or wait. (Minutes, pages 3-4)

  • June 12, 2013: Council approved a budget amendment to use money from the Skate Park Fund to create renderings for a potential urban park with splash pad elements. Council also authorized a statement of fact to be included in bond paperwork that states the potential tax impact on residents, which was 5.2 cents. Financial Services director Melissa Cardinali also advised Council on the next steps, which were to adopt the bond orders and notify the Lee County Board of Elections so that the proper wording would be added to the November 2013 ballot. (Minutes, pages 6-8)

  • June 4, 2013: Council approved Bond Orders authorizing issuance of bonds for $4m for Greenway Bonds, $2m for Sidewalk Improvement Bonds, $2m for Parks and Recreational Bonds, and $6.5m for Streetscape Bonds. Council also scheduled a public hearing on the bond issues for June 18, 2013 at 7pm. (Minutes, pages 4-5)

  • May 29, 2013: At a Law & Finance Committee meeting, Council members were given information about what was needed to complete the process necessary to add the bond issues to the November 2013 ballot. (Minutes, pages 1-2)

  • May 21, 2013: Council resolved to seek approval from the Local Government Commission for the four bond items. (Minutes, pages 6-8)

  • May 15, 2013: At a board retreat, Council discussed how to group potential bond items. They decided not to include the Public Safety Facility and to allow the public to vote on each other item (streetscapes, greenway, sidewalks, recreation) individually. (Minutes, pages 2-3)

  • May 7, 2013: City Council members were given an information packet at the City Council meeting to study and help them prepare to make bond decisions at the May 15, 2013 board retreat. (Minutes, page 7)

  • May 1, 2013: Financial advisors from First Southwest presented information at the Law & Finance Committee meeting about the process and factors involved in issuing General Obligation Bonds. (Minutes, pages 2-3)

  • April 17, 2013: City Council considered a General Obligation Bond referendum at their board retreat. The projects considered were: Streetscapes for Downtown Sanford and Jonesboro ($6.5m), Sidewalks ($2m), Recreation ($2m), Greenway ($5m), and a Public Safety Facility ($7m). (Minutes, pages 4-5)

Want a City official or Council member to discuss the bond items or their status at your next meeting or event?
Call Kelly Quinones Miller at 919-777-1133 or email bonds@sanfordnc.net.

 

 


 
 

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