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Collier commissioners will consider a loan to improve roads
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Collier County commissioners are expected to decide Tuesday whether to sign off on a $50 million state loan so the county’s transportation improvement plans can stay on track.
Think of it as a letter of credit, commissioners said this past year, when the issue was first raised.
Assuming a 5 percent interest rate and loan term of six years, the county would have to pay back a total of about $59.5 million.
Officials would begin to pay the loan back in 2009, with the largest financial burden arriving in 2013 when an $18.8 million obligation comes due.
According to the executive summary distributed to commissioners this past week, the loan will not be drawn upon until it’s actually needed.
The money is earmarked for three major transportation projects: rehabilitation and expansion of Oil Well Road, leading to Ave Maria; Collier Boulevard, from Davis Boulevard to just north of the Golden Gate Main Canal; and Davis Boulevard, from Collier Boulevard to Radio Road.
The Davis Boulevard portion of the loan is considered a Florida Department of Transportation advanced-reimbursement project, for which Collier will receive $20 million from the state, starting in 2013.
The county transportation program’s financial future was first discussed on May 8, 2007, when County Manager Jim Mudd told commissioners he anticipated a $182 million shortfall through 2012.
At the time, Budget Director Mike Smykowski, who is no longer with county government, told commissioners it would cost $94 million to carry out the county’s transportation plan, as outlined in 2007.
Smykowski noted the figure was a budget appropriation, not necessarily cash in hand.
Collier officials are counting on impact fee money to repay the debt, according to the executive summary prepared March 26 by Sharon Newsman, accounting supervisor for the county’s Transportation Services Administration.
In other action at Tuesday’s meeting, commissioners are expected to discuss:
-- A growth management plan amendment to the Immokalee Area Master Plan and Future Land Use Map.
-- A status report on the Santa Barbara Boulevard expansion project, which expands the road from four to six lanes for 4 1/4 miles; and expansion of Radio Road from two to four lanes for a little more than a mile. Work also includes bridge widening over Interstate 75 and Golden Gate Canal.
-- Reconsideration of the maximum number of wet slips when a shoreline is in a conservation easement. This is a time-certain discussion scheduled for 2 p.m.
-- Designating land within the Collier County Government Center campus to use for passenger transfers for the county’s bus system.
-- Amending the current county budget, transferring money from one fund to another as follows: an additional $2.25 million for the South Regional Library; $8,600 for Domestic Animal Services; $621,722 for the County Road Construction Gas Tax fund for bridge rehabilitation; $200,000 for Gas Tax Construction Fund for lighting on Davis Boulevard; $230,214 for the Parks Ad Valorem Capital account for design of the Gordon River Greenway.
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I agree. Let the Barron Collier and Collier Enterprise interests pay for Oil Well Rd. That is the only reason they need to widen it, to serve Ave Maria and the proposed Big Cypress Town developments.
#1 Posted by swfl_ff on April 7, 2008 at 5:30 p.m. (Suggest removal)
Usually when you are going broke, isn't that the time to stop spending money??
How is the loan going to be serviced and where will the money come from to pay to off this debt?If we are having a budgetary shortfall now ($182 million through 2012), I don't see how the county is going to be in a better position come five years from now to meet its debt obligations.
You can't keep raising impact fees and hope that one day you will be flush with cash. Get real, quit spending!
#2 Posted by Nagator on April 7, 2008 at 7:31 p.m. (Suggest removal)
a development that to my reading violates the state master plan and as an retrograde opus dei propaganda center which even tries to control medical practice relationships-would you like to drive 30 miles for full ob-gyn services -and controls its students library content wishes the the general community to pay bond interest for oilwell road repairs with no college or developer contribution
#3 Posted by welcome02 on April 7, 2008 at 7:57 p.m. (Suggest removal)
The county should build no roads to Ave Maria until they fund and complete roads needed to service existing population. They are delaying much needed roads like the Santa Barbara Blvd extension and pursuing these developer roads.
Impeach Colleta. We can't wait until his election.
#4 Posted by cornandbeans on April 7, 2008 at 10:30 p.m. (Suggest removal)
A two-lane Oil Well Road to Ava Maria will be just fine for at least 10 years. Re-pave it, stripe it and throw up a couple of lights. That's all it needs.
#5 Posted by maskun on April 8, 2008 at 3:35 a.m. (Suggest removal)
Looking at Ave Maria and its building the road will not have to be completed for ten years unless they are paying for the construction to sell houses.
They picked the location and they should pay for the road!!!
#6 Posted by rtsspeaks on April 8, 2008 at 7:04 a.m. (Suggest removal)
Maybe if the commissioners would stop fighting against tolls on I-75 and try to work a deal to have that money pay for other county road improvements, everybody would get what they want, except of course, the Catholic bashers.
#7 Posted by RadioNews on April 8, 2008 at 7:48 a.m. (Suggest removal)
Michael Lissack tried to point out to Collier County that coastal Collier will be expected to
pay for the infrastructure of the Eastern County.
Guess he was right! The Ag exemption meant that
the Collier family paid virtually no money into
the pot until the property was developed.
#8 Posted by BobBarricade on April 8, 2008 at 8:53 a.m. (Suggest removal)
BobBarricade.
I like Michael, but we have a fundamental difference of opinion here. The people in the urban area have a responsibility to help pay for the infrastructure in eastern Collier. Remember, there will be over 600,000 people living in eastern Collier. Ave Maria is just a small part of that. If improvements aren't made to roads and everything else, these 600,000 will be clogging up the roads, shopping, libraries, etc in western Collier. Why shouldn't they pay? Anyway, our tax dollars have been going to pay for their improvements for years.
#9 Posted by Estatesdude on April 8, 2008 at 12:16 p.m. (Suggest removal)
Ave Maria is supposed to be a stand alone town. Shopping, libraries, etc are planned to go out there. Unfortunately this vision is not understood/ignored and the same urban sprawl mentality continues and now this pandering fool Colletta wants the taxpayers to fund a loan for a road widening that's not needed- in hard times no less. I agree with tolling the road but put the collection booths at the entrances of Ave Maria and use the money to make oil well road safer and eco-friendly.
#10 Posted by wes on April 8, 2008 at 5:14 p.m. (Suggest removal)
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