Plum officials are in the process of securing an estimated $7.6 million bond to bolster a new borough building project, stormwater management projects and repurpose the current municipal site.

Borough Manager Michael Thomas said bond counsel Pat Healy is working to acquire the funds.

Council is expected to approve a resolution regarding the bond at its Monday meeting. The borough may close on the deal in about three months .

“We need to get a lot more capital projects done for the community, a lot of infrastructure projects done,” Thomas said at Wednesday night’s workshop meeting. “Borrowing money right now for municipal government is the cheapest it’s ever been.”

Massaro Construction Management Services is overseeing Rycon Construction crews at the new borough building site along Old Mine Road, which is next to the Renton Volunteer Fire Department and Plum EMS stations.

Rycon Construction of Pittsburgh was the lowest of 11 bidders for the work at about $16.5 million.

Plum took out a $15 million bond. Of that, $12 million would go toward the town center, $2 million for stormwater projects and $1 million for parks and recreation.

The borough’s bond counsel for that bond was Ron Brown of Cohen & Grigsby. Its bond underwriter was Piper Jaffray.

The new bond would close the funding gap.

The so-called town center would house a police station, municipal offices, gym, a plaza and a community center — essentially an all-in-one government service center.

It’s unclear when the project would be completed.

The current Plum Community Center is located at 499 Center-New Texas Road. The borough building is at 4575 New Texas Road.

The goal is to sell or lease the current borough building and lot to retail developers and use that money to help pay for the center construction.

Thomas said a portion of the proposed bond would be used for paperwork and other measures to prepare the site for a future retailer.

Thomas said there are about 20 stormwater projects that could benefit from the bond. More information about those projects is expected to be released by the end of July.

Councilman Michael Pastor said he supports the idea of borrowing the money to take care of necessary projects.

“I think it’s a smart move,” Pastor said. “It’s a safe move that we have the money there if we need it. It’s not a guaranteed thing that we will need it. It’s there if we do.”

He also praised crews working on the new borough building.

“I think the design of the new building is fantastic,” Pastor said. “It’s going to be great space for the staff. The staff is going to fit in there much more comfortably. The police force is going to be well-accommodated there as well. It’s just a great thing for the borough.”

Thomas also announced the borough will receive about $2.8 million in American Rescue Plan Act funds.

Council has not decided how to use the funds. It has until the end of 2024 to spend it.

Officials do plan to create a separate bank account for the monies to help with future audits and accounting.

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