Bond financing authorized for proposed Plum Town Center
Bond financing is being explored to fund a proposed municipal center in Plum.
Council recently authorized administration to issue bonds to pay for the new facility along Old Mine Road near the public works and EMS facility.
Officials could borrow about $20 million with building construction costs projected around $12 million. Remaining funds, should they be approved, would be used for related costs and other projects.
“The rates right now on what municipalities are paying out in interest on bonds are the lowest they’ve ever been in the history of our country,” borough Manager Michael Thomas said. “Right now is the best time to be borrowing money for any type of capital improvements.”
Plum’s bond counsel is Ron Brown of Cohen & Grigsby. Its bond underwriter is Piper Jaffray, who will market and sell the bonds. They may be issued late November or early December.
Officials said that for the past few years, the current borough office at 4575 New Texas Road is too small and makes operations cumbersome.
“We need to update,” Mayor Harry Schlegel said. “It’s modernization. We’re cramped.”
Pittsburgh-based Massaro Corp. crafted conceptual drawings of the proposed Plum Town Center a few years ago. They are available to view at the borough office.
The town center would house a police station, municipal offices, gym, a plaza and a community center — essentially an all-in-one government service center.
The current Plum Community Center is located at 499 Center-New Texas Road.
Schlegel said the drawings are not the final design of the facility, and he would like to see a few upgrades.
“I’d like to see a small workout area for the police and staff if they want to use it,” Schlagel said. “It makes them healthier. … I’d like to see a more efficient layout of the building.”
He also recommended including locker rooms.
Michael DiVittorio is a Tribune-Review staff writer. You can contact Michael at 412-871-2367, [email protected] or via Twitter .