FULTON, NY – With the financing end sealed, the city of Fulton is one step closer to securing a new site for its Department of Public Works.
The city’s original DPW garage was taken down after heavy snow collapsed the roof in January. In the interim, the city has been leasing space for the DPW at the Riverview Business Park.
In May, the city signed a purchase offer for the building and property located at 17 Edgarton Street. The purchase offer was made contingent on the insurance company settling with the city for the damage to the original building. That same evening, the council also agreed to seal a purchase offer to buy an additional three acres of land that adjoins that property.
Tuesday evening, the Fulton Common Council agreed to fund the purchase at a maximum estimated cost of $1,143,653. The city‘s expenditure for the purchase will total $943,653. The council agreed to finance the balance of the purchase of the building through the issuance of $200,000 in bond anticipation notes. A separate bond resolution was approved in the amount of $150,000 for the additional property.
Prior to the two votes, Fulton Mayor Ronald Woodward explained that the city’s cost for the building will be approximately $875,000. The remaining amount that will spent and covered through the issuance of bonds will be used for renovations to the building and the site.
Woodward explained, however, that those costs will be reimbursed at a rate of 85 percent by the city’s insurance company. Costs for the renovations have to be submitted as each section is complete, he said.
Woodward pointed out, however, that to receive money for the renovations, the city will have to front the funds for those costs.
“They won’t give us the money up front,” Woodward explained.
Woodward said the city also plans to bring the sewer crew from its existing site to the new DPW location. The former site, he said, will be sold.
“We have a buyer for that one,” he said, noting that the city expects to recover approximately $100,000 from that sale.
The council voted 5-0 to approve both bond resolutions. Fifth Ward Alderman Norman Foster is recovering from surgery and was absent from the meeting.
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