Village of Bear Lake: DPW Building Budget

On August 7, 2018 Ballot Proposal #2 will give Village voters an opportunity to decide whether to approve a 30 year $350,000 Bond Proposal to construct a new Maintenance garage.

On June 12, 2018 , Bear Lake News received the following documents as a result of a protracted FOIA request.

payment_and_amortization_schedule_calculator_1_

PAFR Bear Lake Village DPW Construction

Prelim Specs

categorical_exclusion_form

The Village subsequently posted them to their own web site on July 2.

[A history of the DPW discussions can be viewed here]

Previous Minutes from the DPW Building meeting contained minimal information about design, cost, location or financing.

Approved corrected minutes May 14, 2018

At the February 7, 2018 Village Budget meeting the following was stated:

Water Fund:
• Other Income – reimbursement from Water/Well Project
• Water Expense – Include $12K Repair & Maintenance per USDA
• DPW Building – $35,000.00 land purchase from Bear Lake Schools should be done by the end of FY 18/19.

However in the descriptive narrative for the project it states:

The following amortized schedule of payments were provided.

A $350,000 loan carries an additional $204,526  in interest fees = $554,526  paid by Village residents over the next 30 years.


The following expense list is in the provided documents.

finalSubmittal.doc

No explanation has been provided of future use and repairs to the existing and previous Village offices, or disposition of 2 surplus vehicles.

DPW partial repayment line item is listed in the current FY operating budget consistent with the published Notice of Intent:

Bear Lake Village Resolution

No Profit and Loss Reports have been received since then.