The Hollister Redevelopment Agency board soon will consider
whether to allow an $8 million bond issuance for two capital
improvement projects, according to a local city official. The first
project is a teardown and rebuild of fire station one on the 100
block of Fifth Street.
HOLLISTER
The Hollister Redevelopment Agency board soon will consider whether to allow an $8 million bond issuance for two capital improvement projects, according to a local city official.
“The RDA is looking to do a bond issue in the next few months,” said RDA Projects Manager Bill Chow.
The $8 million would go toward funding two new capital projects. The first project is a teardown and rebuild of fire station one on the 100 block of Fifth Street.
“We are going to spend about $5 million on the fire station to complete construction,” Chow said.
The second project would be improvements to the west gateway into Hollister. It would entail mostly landscaping, landscape design improvements and making it more pedestrian friendly, according to Chow.
The funds would go “to make the west-side entry as a gateway into the City of Hollister,” he said, “everything to help improve the westside gateway and making it a dramatic entry.”
The bond issue would not cause an increase in taxes for Hollister citizens because the bond is to be paid back by revenues generated by the RDA, Chow said.
“The agency has sufficient funds or revenues to pay for the bond. Property owners do not pay any extra taxes.”
However, the bond issue does have to be approved by the city council, whose members will be sitting in as the RDA board. Chow said he made a presentation to the board at the June 9 special meeting on what projects will be funded by the issuance.
Look back later in the week for more on these two proposals.
