Jonesboro presents Capital Improvement Plan to finance committee

JONESBORO, Ark. (KAIT) – The city of Jonesboro presented its plan to improve the lives of residents in the city to the Finance Committee on Tuesday, Sept. 10.

The Finance Committee’s agenda included a resolution to begin the formal pricing process for future bond ordinance legislation.

It was forwarded to the city council.

Jonesboro Chief Administrative Officer Brian Richardson said the investment plan would be funded through a revenue bond.

“It is simply taking a revenue stream that we already receive that the state allows to allocate that money towards future debt. The revenue bonds come from franchise fees that businesses pay to the city of Jonesboro,” he said.

What exactly is in this Capital Investment Plan?

Just over $25.5 million was to be invested over the next three years in several projects. The plan was tabled earlier this year.

Richardson said there were a few changes between this plan and the old one.

“So we took that that feedback, and really spent a lot of time developing and adding more and more detail to the proposed expenditures to”

Some of the biggest projects in the plan include:

· $6.5 million investment in a facility that will be next to the police department that will house E-911 service.

· $6 million to expand South Caraway Road to five lanes from I-555 to Fox Meadow Lane

· $5 million in trail connections.

· $2 million for a new sidepath on Race Street from Red Wolf Boulevard to Browns Lace.

· $250,000 for sidewalks and lighting.

· $3.25 million for aquatic and pool construction.

· $1 million for a Parks Master plan implementation.

· $500,000 for humanitarian outreach.

· $250,000 for upgrades at The Forum.

· $750,000 for a city-wide master growth plan.

· $250,000 for Land Bank & Development Incentives.

The city wants a revenue bond to fund $17.5 million of the projects and $8.25 million in ARPA (American Rescue Plan Act) fund to fund the projects.

The total cost would be $25.75 million.

Richardson said safety was a reason why they wanted to bring the plan forward now.

“The earlier that we start the process, the sooner these projects are done, the sooner that we can get pedestrian infrastructure on South Caraway Road, the better chance we have it saving a life out there,” he said. “We want to make sure that we build the quality of life in Jonesboro.”

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