The Marietta Council gets a rare chance for a “do-over” tonight. And the good news is that the “error” they have a chance to remedy is a “happy” one that favors city taxpayers and badly needed redevelopment of a long-festering problem.
Thanks to a fortuitous miscalculation at City Hall, Mayor Steve Tumlin now expects to have up to $68 million to work with if city voters approve a November bond referendum framed primarily as way of raising funds to address problems in the Franklin Road corridor. City Hall finance types had thought that a 2-mill bond issue would raise around $35 million, but the city’s bond consultant says the actual figure likely would be close to twice that.
The council, which voted earlier this month to schedule a $35 million referendum for November, tonight must decide whether to void that vote and schedule a referendum for the same date with the new dollar figure. There’s also the possibility that some council members will try to snare portions of the “new” money for projects in their own wards unrelated to the overarching purpose of the referendum, which is jump-starting redevelopment along Franklin Road.
via The Marietta Daily Journal – Marietta Council has chance for a happy do over.
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