Gadsden City Council passed a resolution to move forward with the pursuit of a $115 million bond for capital improvements included in the budget for 2025.
The bond has been in the works for three years as part of the GROW Gadsden Master plan.
“The input for this project, and for this bond, is right here,” Mayor Craig Ford said, holding up a copy of the GROW Gadsden plan. “This is the people’s plan. This is why we did the GROW master plan throughout the community to see what the people wanted.”
These funds will be used for improvements of sports and recreation, infrastructure, public works and arts and entertainment. Council member Jason Wilson said this will authorize the mayor to negotiate debts on behalf of the city.
“Just for full clarification, that doesn’t necessarily mean we are borrowing $115 million,” Wilson said. “…What this says is that we will do whatever it takes to result in the city receiving $115 million in proceeds from these bond issues.”
Although there were some anxieties around the decision to pursue a bond of this amount, Council member Tonya Latham said she feels that this will enable the growth of Gadsden for generations to come.
“I think we have failed to recognize that Gadsden has been labeled as a retirement city,” Latham said. “Make no doubt, the time is now. With this mayor and with this council to make the necessary decisions that are conducive for those generations that are coming to even want to reside in this city.”
In the fall, Mayor Craig Ford will travel to New York to request a bond rating and present that to the city council once the figures are finalized. Projects will begin as soon as the bond money comes in.
Gadsden used a bond for the construction of Gadsden City High School, which will be paid off in 2033, according to Ford. The largest bond Gadsden previously took out was $25 million for The Venue at Coosa Landing, according to Iva Nelson, Gadsden city clerk.
Also during the meeting, the council agreed to amend the budget by $13,115,000. $11.1 million will go toward the West Meighan Sports Complex, $1 million for furniture for the new city hall, $600,000 for the relocation of police dispatch services and $415,000 for a new garbage truck.
The city council approved the contract with Etowah County Commission and the sheriff’s office regarding the housing of Gadsden City inmates at the Etowah prison. The last contract that was proposed included a clause that any of the three partners could opt out of the agreement by giving a 12 month notice. This new agreement says the contract can be ended only if there is a unanimous vote by the county commission.
The contract will be sent to the sheriff’s office and county commissioners for their approval before it is finalized.
