Mayor proposes streets bond
Council considers different plan
Between the road cones and the pot holes, the streets of Shreveport can be a treacherous place for a car. So the city council's Infrastructure Committee met Friday to talk road repairs.
Mayor Cedric Glover has once again pitched his idea of using the Streets Special Revenue Fund, which comes from money we pay for the SWEPCO Franchise Fee, and bonding out more than $50 million for concrete street repairs. Mayor Glover says it's the best way to address city streets.
"What we've offered to them is that we leverage those dollars in a manner that gives us a chance to have a larger pool of dollars to be able to address more streets, more problems, and essentially fix more streets faster and quicker than you would with a pay as you go method," said Glover.
But the Infrastructure Committee is considering taking about $10 million from the Streets Special Revenue Fund and going after a list of asphalt streets in need of repair. Council members say they'd rather be free to use the money as it comes in than tie those dollars up for 25 years.
"It's not very wise that we would bond $6 million coming in over a period of 25 years," said Councilman Joe Shyne (Dist. F). "I think it's extremely important for us to have that money available in case we run into an economic downfall."
"One reason we chose to go with $10 million for asphalt is that we could cover a large list of streets, it would be done in all cash, and it would be completed before the end of the year," said Councilman Jeff Everson (Dist. B).
The council has postponed its vote on the asphalt streets plan until more discussion can be had.
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