AGENDA #14a(1)

 

MEMORANDUM

 

TO:                  Mayor and Town Council

 

FROM:            The Sustainability, Energy, and Environment (SEE) Committee

                        (Council Members Strom, Verkerk, and Ward)

 

SUBJECT:       Petition for Report on Green Infrastructure Bond

 

DATE:             April 28, 2003

 

 

The Sustainability, Energy, and Environment (SEE) Committee petitions the Town Council to direct the staff to report about the feasibility and financial aspects of a Chapel Hill 2003 GREEN INFRASTRUCTURE BOND.

 

The committee believes the bond could meet several of the top priorities of this council. The bond would include the following:

 

• Construction costs for 50% of sidewalks listed on the current sidewalk plan within five years.
• Construction costs for 50% of the greenways listed in the Greenway Master Plan within five years.
• Sufficient funds to establish an Energy Bank in the town budget, and for an Energy Coordinator in 2004.
• Upgrades in pedestrian amenities to five intersections
• Open space purchases
• Neighborhood, pedestrian and bicycle safety improvements.

 

In addition, the SEE Committee would like to have an amortization schedule for the bond.  The committee respectfully requests this information to come back to Town Council by the May 28, 2003, Council meeting to allow for a full Council discussion prior to summer recess.