West Mifflin building action proceeds
By Patrick Cloonan
Published: Wednesday, Oct. 16, 2013, 2:31 a.m.
West Mifflin council on Tuesday voted to seek proposals from would-be purchasers of the borough's administrative building on Lebanon Church Road and took action to help pay for the move into a new municipal building.
Council authorized Solicitor Phil DiLucente to draw up the request for proposals, and approved $14.28 million in new bonds.
• $4.09 million in Series A bond to go toward new municipal headquarters in the former Trumbull Corp. offices along Lebanon Road and other capital work.
• $1.94 million in Series B bonds to refund the borough's 2007A series at a savings of $108,000.
• $8.25 million in Series C bonds to help the borough catch up on pension obligations and reduce future obligations.
“It is an obligation the borough already owes,” borough manager Brian Kamauf said. “The minimum municipal obligation is $1.35 million this year and would be $1.36 million in the next.”
The borough had 67 percent-funded pension plans. Kamauf said the bonds bring it up to 100 percent while lowering the minimum municipal obligation to $670,000 a year.
Series A and B are tax-exempt, with Series A being callable in five years. The 20-year Series C's yields are taxable.
The bonds come with a new rating from Standard & Poor's. James McCarthy, Pittsburgh-based vice president of public finance investment banking for PiperJaffray, told council S&P upgraded the borough's rating from A to A-plus.
Kamauf said the borough anticipates adding $172,000 to its debt service with the Series A bonds and leases that bring an annual income of $360,000 at the new building.
Kamauf said the borough conservatively anticipates a reduction of $20,000 to $30,000 in costs for moving the police from the station along Greensprings Avenue.
• Recalling the fifth of 12 public works employees who were furloughed two years ago;
• Hiring Michael Caterino as a part-time IT technician and purchasing a computer server from CDW-G for $11,359.50 under a state COSTARS contract;
• Renewing UPMC Healthcare policies effective Dec. 1;
• A site plan by KAG Engineering for a secondary access road from Route 885 onto the Community College of Allegheny County South Campus;
• An agreement with West Mifflin Area School District for a public access cable TV channel.
Patrick Cloonan is a staff writer for Trib Total Media. He can be reached at 412-664-9161, ext. 1967, or email@example.com.
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