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The committee voted 3-0 to recommend a general obligation bond for the stormwater capital program and utility rate adjustments for the water and sewer capital program. It also recommended approval of a lease amendment for 1691 Michigan Avenue, including two additional 20-year options, revised rent terms, and additional public benefits.
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The infrastructure recommendation would use borrowing for stormwater projects and utility rate adjustments for water and sewer improvements. The administration will provide additional rate-based funding options for First Street and West Avenue neighborhood projects. The lease amendment will return to the City Commission with the committee’s favorable recommendation.
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