The May 4th elections will include two property tax renewals and a bond millage. More specifically, the following items will be on the ballot:
Harbor Transit and Street Millage Renewal
The 0.95 mills used to fund Harbor Transit on-demand service and supplement the road maintenance provided by the Ottawa County Road Commission will be up for its second renewal. This millage was originally approved by the voters in 2011. The cost for a family with a home value at $200,000 will be about $95 per year.
Four Pointes Millage Renewal
The 0.25 mills used to fund the senior services provided by the North Ottawa County Council on Aging (dba Four Pointes) will also be up for renewal. This millage was originally approved by the voters in 2004. The cost for a family with a home value at $200,000 will be about $25 per year.
Parks Bond Millage
The Parks Bond will authorize the Township to receive a loan for about $6.16 million to fund improvements to the Township′s 672-acre park system. An additional $750k in restricted General Fund cash reserves will be added to the bond monies for the following:
- Monies to develop the recently donated Schmidt Heritage Park property, including pickleball courts, sports fields, a jogging trail and other related improvements;
- Matching funds for a state land acquisition grant for property along Groesbeck Avenue that will connect to Hofma Park and Preserve;
- Matching funds for a state development grant for the Witteveen farm property along 168th Avenue that was recently added to Hofma Park and Preserve; and,
- Matching funds for a federal grant for the redevelopment of the Pottawattomie Park waterfront that has been eroded and damaged by the historic high lake levels.
The bond (which is simply a municipal loan) will be paid over a 20-year period. The bond will be funded with a 0.4 mill property tax — the cost for a family with a home value of $200,000 will be about $40 per year. (This will decline↓ over the course of the loan to an estimated 0.36 mills.)
The Township′s financial position will remain strong with the approval of the Parks′ bond. Even after adding the Township′s only remaining outstanding bond (i.e., the Pathway bond), the total indebtedness of the Township will be merely 8.5% of the $120+ million in general obligation debt that the Township is authorized to issue under the State constitution.