O’Fallon leaders advance plan to finance costs of new pool
A $9.1 million Community Park Enhancement Project moved forward with the O’Fallon City Council agreeing to fund the pool’s replacement through bonds to be paid by the utility tax.
On Oct. 16, the council approved a parameter ordinance – which allows “up to” a determined amount – in this case, up to $8.5 million initial principal of general obligation bonds, to be issued by the end of the year so that the city can take advantage of the higher interest rates and invest the bond proceeds until needed to pay for the project.
It was a 12-1 vote, with Jerry Albrecht voting no and Christopher Monroe absent. The bonds to construct the Public Safety Facility expire in 2024, and bonds to replace the pool can be paid with the same utility tax revenues, according to Finance Director Sandy Evans.
The bond underwriters are Bernardi Securities. The staff recommended the 30-year level debt service issue, which would provide bond proceeds of $8.4 million. The bonds have a call feature of 10 years and can be callable and refinanced/restructured at any time thereafter.
Evans said just about all the city’s bonds issued within the past 20 years have been refinanced at some point.
The city also received an Illinois Department of Natural Resources grant of $600,000 towards the pool project. If all goes according to plan, the development, estimated at $9.1 million, including a new pool, community center and event space, will open in May 2025.
Here is the schedule for the project:
November-December: rating and due diligence call, preliminary official statement finalized and issue bonds for pool construction.
January-August 2024: Invest bond proceeds (possibly longer depending on need).
February-April 2024: FY25 Budget to include Community Park Enhancement Project funding.
Summer 2024: Begin construction of new pool.
August-September 2024: Close existing pool and begin construction of new community center and event space.
May 2025: Pool, new community center, and event space open.
Spring-summer 2025: Demolish Cavins Center and build new parking lot.
City Council action Oct. 16
In other action, the council advanced an annexation agreement from Robert and Janet Pontious for 2.98 acres at 433 Scott Troy Road to become a rural residence. It is currently zoned as an agricultural district and up for final approval Nov. 6.
In a 12-1 vote, with Albrecht voting no and Monroe absent, aldermen OK’d a video gaming license request for 747 Seibert Road, which is My Bowl Korean BBQ, which has been operating since 2018.
Gary Clinton of Gasu Properties submitted the application that has advanced through the Planning Commission, Community Development Committee and will be up for final approval Nov. 6, as recommended by city staff.
Highway 50 meetings
The next meetings of “Forward 50” – a public planning and engagement initiative – will be at Public Design Studios to be held on Oct. 19, 24, and 26 from 5-7 p.m. at City Hall.
This highway study is part of the East-West Gateway Council of Governments’ Great Streets Initiative. It is funded, in part, through a grant from the U.S. Department of Transportation through the Illinois Department of Transportation.
In March, the city received a Great Streets grant for a detailed plan for Highway 50 from Exit 14 to Exit 19 and a portion of Lincoln Avenue. The grant is up to $500,000 and the city’s portion is $100,000.
These meetings are seeking input from residents and businesses to improve the function and appearance of U.S. 50 for the O’Fallon community, and they were launched in September after listening sessions with leadership.
RDG, a national planning and design group with an office in St. Louis, is the project director.
For more information about Forward 50, the city has begun putting information on their website: https://www.ofallon.org/planning-zoning-division/pages/forward-50-great-streets-initiative.
If you have any further questions or comments, contact Community Development Director Justin Randall at jrandall@ofallon.org, or by calling 618-624-4500.
All-Abilities Playground update
Andrew Dallner, director of the Parks and Recreation Department, announced that the grand opening and ribbon-cutting of the All-Abilities Playground will take place at 4:30 p.m. on Monday, Oct. 30 in the Community Park.
The inclusive ADA-accessible playground started construction in June in the park’s northwest corner, with funding contributed by community service organizations and local businesses, as well as the Build O’Fallon Trust Fund.
Halloween activities
Trick-or-Treating within the city will take place on Tuesday, Oct. 31. The mayor said if you do not want trick or treaters at your door, do not have outside porch lights on.
The O’Fallon Rotary Club annual Halloween Children’s Parade and Party is Saturday, Oct. 28 from 12-3 p.m.
A Halloween Hunt Crawl for adults is Oct. 28 from 5-9 p.m. in the downtown district.