City Refunds $26,780,000 in Certificates of Participation, Series 2010B

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City Council recently approved the refunding of $26,780,000 in Certificates of Participation, Series 2010B. The Series 2010B COPs were issued in December 2010 and financed the cost of construction of the City’s Public Safety building, Fire Administration building, Fire Station #1 and the remodel of Fire Station #2. The Series 2010B COPs were issued as Taxable Build America Bonds.

The anticipated rate was expected to likely be in the 3.3%-3.2% range with an annual estimated savings of approximately $193,000/year. The total gross savings to the City was originally estimated to be just over $4 million.

After the sale, total gross savings to the City will be $6.2 million. Total orders were over $80,000,000, which drove the final rate down to 2.82% and the estimated annual savings is $292,000/year. The City’s recent upgraded bond rating to AA- played a large role in the number of orders received and ultimately led to the low interest rate.

General Services Director Jay Valentine states, “Management has done a remarkable job in ensuring that the City achieved the upgraded credit rating which in-turn made us very attractive in the bond market. We are always striving to maintain costs and look for ways to save as much money as possible so achieving a savings of $292,000 per year is very successful.”

The term of the new COPs is the same as the original Series 2010B COPs which mature in 2040. In addition to the refunding savings, Fire Station 1 will be released from leased property (collateral) securing the COPs and only the Public Safety building would serve as leased property for the Series 2019 Refunding COPs.


Contact:  Greg LeBlanc, Assistant to the City Manager     970-244-1557 or gregoryl@gjcity.org 

Projects Affecting Traffic for the Week of 5/20/19

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City of Grand Junction Projects with Travel Restrictions

Annual Street Striping and Pavement Marking Project

  • City crews will be striping the following streets this week:
    • 21 1/2 Road from I Road to Hwy 6 & 50
    • 22 Road from H 1/2 Road to Hwy 6 & 50
    • H Road from 21 1/2 Road to 22 Road
  • Please avoid crossing wet paint
  • Expect short delays.

2019 Asphalt Overlay Projects

This week’s activities will include the following:

  • 23 Road Asphalt Milling from Hwy 6 & 50 to G Road
  • 27 Road Asphalt Milling from Crossroads Blvd. to H Road
  • H Road Asphalt Milling from 26 ½ Road to 27 ½ Road
  • Redlands Parkway Asphalt Milling from the Colorado River to River Road/Riverside Pkwy.
  • 23 Road Asphalt Paving from Hwy 6 & 50 to G Road
  • H Road Asphalt Paving from 26 ½ Road to 27 ½ Road
  • 27 Road Asphalt Paving from Crossroads Blvd. to H Road

Traffic delays can be expected

  • Alternating one lane traffic during daytime hours, Monday through Friday
  • Delays can be expected
  • Alternate route advised.

Riverfront Trail Closure – Las Colonias Park

  • Bike / Pedestrian Trail closed from the intersection of 27 ½ Road and C ½ Road to the Old Mill Bridge (Bridge leading to Eagle Rim Park)
  • Bridge access will remain open by way of detour
  • A well-marked detour will be in place
  • Anticipated completion – July.


Non-City of Grand Junction Projects with Travel Restrictions

32 Road Sewer Line Replacement Project – Clifton Sanitation District Project

  • Watch for utility construction (various locations) along 32 Road between I-70B and D Road
  • Please slow down through the work zones and obey traffic control signs and personnel
  • Motorists may experience intermittent lane closures and detours
  • Anticipated completion – September.

E Road between 23 Road and Vista Grande Drive (Redlands) Water Line Upgrade – Ute Water Project

  • E road will be closed to through traffic 8am to 5pm, Monday – Friday
  • Detour route will be in place
  • Access will be provided for local residents
  • Anticipated completion – May.

29 ½ Road north of F ½ Road Water Line Replacement – Ute Water Project

  • Expect alternating one-lane traffic and moderate delays
  • Resident access will be maintained at all times
  • Anticipated completion – June.

New Mayor & Mayor Pro Tem Selected

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During the regular City Council meeting tonight, a new Mayor and Mayor Pro Tem were selected by the members of City Council.

For the coming year, Councilmember Rick Taggart, District At-Large, will serve in the capacity of President of the Council, or Mayor, and Councilmember Duke Wortmann, District D, will serve as Mayor Pro Tem.

Both were administered the oath of office by City Clerk Wanda Winkelmann and chairing of the meeting was turned over to Mayor Taggart by interim Mayor Pro Tem Phyllis Norris.

The Mayor and Mayor Pro Tem each serve a one-year term.

 

Contact:  Greg LeBlanc, Assistant to the City Manager     970-244-1557 or gregoryl@gjcity.org 

Lunch Loop Connector Trail Ground Breaking Event

2017.2.17 Project Context Map

The City of Grand Junction, Colorado West Land Trust, Mesa County and the many other partners are celebrating the ground breaking of the Lunch Loop Connector Trail on Wednesday, May 15, 2019 at 3:00 p.m. in the Lunch Loop Trailhead Parking Lot off of Monument Road. This $2.5 million project will link some of the Grand Valley’s most popular amenities and neighborhoods to the world renown and community favorite Lunch Loop and Three Sisters trail system. With the construction of this 1.5-mile Trail in late 2019, outdoor enthusiasts of all ages and abilities will enjoy a safe and almost seamless outdoor linear park that connects Las Colonias, the Audubon Trail, Connected Lakes, downtown Grand Junction, and the Lunch Loops and Three Sisters open space.

Partners for this tremendous community project include:

  • Great Outdoors Colorado
  • Bureau of Land Management
  • Rivers, Trails, and Conservation Assistance Program/National Parks Service
  • Gates Family Foundation
  • Colorado Parks & Wildlife
  • Bacon Family Foundation
  • El Pomar Foundation
  • Goodwin Foundation
  • One Riverfront

Contact:  Greg LeBlanc, Assistant to the City Manager     970-244-1557 or gregoryl@gjcity.org 

Or, Libby Collins, Colorado West Land Trust Project Manager   970-263-5443 or libby@cowestlandtrust.org

Grand Junction City Council Preview for the Week of 5/13/2019

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For more detailed information on any of these items, read the full agendas and/or staff reports here: http://www.gjcity.org/city-government/agendas-and-minutes/  City Council meeting videos can also be found at the same link.

City Council will discuss the following items at this week’s meetings:

Monday, 4/15/19 – 5:30 p.m.    City Council Workshop   City Hall Auditorium, 250 N. 5th Street

Discussion Topics

1a. 2019 Program Year Community Development Block Grant (CDBG) Funding Requests


Wednesday, 5/15/19 – 6:00 p.m.    City Council Meeting   City Hall Auditorium, 250 N. 5th Street

Proclamations

Proclaiming May 19 – 25, 2019 as Emergency Medical Services Week in the City of Grand Junction

Proclaiming May 18, 2019 as Kids to Park Day in the City of Grand Junction

Proclaiming May 18, 2019 as Colorado Public Lands Day in the City of Grand Junction

Appointments

Election of Council President/Ex-Officio Mayor and Council President Pro Tem/Ex-Officio Mayor Pro Tem

Certificates of Appointment

To the Grand Junction Regional Airport Authority Board

Regular Agenda

Public Hearings

5ai. An Ordinance Amending Planned Development Zoning Ordinance No. 4676 and Amending the Outline Development Plan for “One West Development”, Now Known as “The Community” Planned Development, Located at 2350 Highway 6 & 50 Between 23 1/4 Road and 23 3/4 Roads, from G Road to Highway 6 & 50


Contact: Greg LeBlanc, Assistant to the City Manager 970-244-1557 or gregoryl@gjcity.org

Projects Affecting Traffic for the Week of 5/13/19

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City of Grand Junction Projects with Travel Restrictions

Annual Fire Hydrant Flushing Program

  • Please slow down in areas where crews are working
  • Watch for minor street flooding
  • Anticipated Completion – late May.

Annual Street Striping and Pavement Marking Project

  • City crews will be striping the following streets this week (weather permitting)
    • North Avenue: 15th Street to 29 Road
    • Hwy 50 from Ute Avenue to Grand Mesa Avenue
    • Patterson Road from 24 Road to Lodgepole Street
  • Please avoid crossing wet paint
  • Expect short delays.

2019 Asphalt Overlay Projects

This week’s activities will include the following:

  • Redlands Parkway shoulder widening from the Colorado River to River Road/Riverside Parkway
    • Alternating one lane traffic during daytime hours, Monday through Friday
    • Delays can be expected
    • Alternate route advised.

North Avenue Median Irrigation Project (Directional Boring)

  • Intermittent lane closures both directions of North Avenue from 12th Street to 23rd Street
  • Monday through Wednesday, 8:30 a.m. to 3:30 p.m.
  • Expect short delays.


Non-City of Grand Junction Projects with Travel Restrictions

32 Road Sewer Line Replacement Project – Clifton Sanitation District Project

  • Watch for utility construction (various locations) along 32 Road between I-70B and D Road
  • Please slow down through the work zones and obey traffic control signs and personnel
  • Motorists may experience intermittent lane closures and detours
  • Anticipated completion – September.

E Road between 23 Road and Vista Grande Drive (Redlands) Water Line Upgrade – Ute Water Project

  • E road will be closed to through traffic 8am to 5pm, Monday – Friday
  • Detour route will be in place
  • Access will be provided for local residents
  • Anticipated completion – May.

29 ½ Road north of F ½ Road Water Line Replacement – Ute Water Project

  • Construction is scheduled to begin Monday, May 6
  • Expect alternating one-lane traffic and moderate delays
  • Resident access will be maintained at all times
  • Anticipated completion – June.

Join the City Manager for a Cup of Coffee

May 2019Grand Junction City Manager Greg Caton is hosting a series of informal coffees to interact with community members, gather feedback on City programs and services, and to answer questions.

The next coffee is scheduled for Friday, May 17 at Monument Village Coffee, 2148 Broadway, at 9:00 a.m. The City Manager will be joined this time by City Councilmember Duncan McArthur.

The sessions are open to the public and are an unstructured, drop-in format. More details here: http://bit.ly/2i6AQkR


Contact:  Greg LeBlanc, Assistant to the City Manager   970-244-1557 or gregoryl@gjcity.org