Finance Update:
- Millage Rate: The Finance Department has calculated a FY-16 millage rate that will meet projected budgetary requirements. A recommendation was made to the Finance Committee to increase the millage rate to 9.930 from the previous rate of 9.747 mills. If approved, this would be the first millage rate increase since 2010. The proposed tax increase would be approximately $18.33 for a homestead exempted property valued at $125,000.
- Building Acquisition: A validation hearing was held on August 13th and the closing will be completed on August 20th. The Finance Department continues to work with BB&T and the Bond Counsel to complete the acquisition.
- Standard & Poor’s: On August 18, 2015 the Standard & Poor’s Rating Service affirmed its AA- credit rating on Gordon County. The report attributed the rating to Gordon County Government’s strong financial management, budgetary performance, and very strong debt position (report attached).
Project Update:
- Red Bud Road Fire Station: Calhoun Commercial Construction reported that final completion should occur by October. Later this week painting will begin in the living quarters and liner panels will be installed in the equipment bay. The contractor informed us that delays attributed to the building firewall have been resolved, and they are now addressing the poor soil condition identified near the entrance. A project update is being scheduled for August 27th, 2015.
- Tennis Courts Renovation: The least cost bidder was identified as the preferred contractor to renovate the Tennis Courts at the Sonoraville Recreation Complex. This was the only proposal that could be executed with the approved budget.
- Mental Health Facility: Fellowship Health Resources continues to prepare the mental health building for operations to begin on September 1, 2015.
- Parking Deck Update:
- Conduit and cabling has been installed in the parking deck in preparation for the installation of security cameras.
- Atlanta Structural Concrete and RaLin construction have installed bumper guards on select precast columns in the parking deck.
- George Chambers CDBG: The George Chambers re-bid schedule was received from Killian Clark Architects and the General Construction bids have been advertised. We anticipate receiving proposals in September. The new substantial completion date has been projected for March 30th 2016.
