City Council debates use of proceeds from Garden View sale

   MONONA — The Monona City Council Monday night discussed several potential projects that could be undertaken with money from the sale of Garden View Senior Living Center, which was finalized the first week of the new year.

   City Administrator Dan Canton distributed a final statement of proceeds from the sale as well as the payoff of long-tern debt to the USDA and Freedom Bank for loans and various settlement fees and taxes paid by the city as part of the sale agreement. Following those payoffs from the $2.7 million sale price, the city was left with just over $630,000 that it is able to use on other projects.

   Canton provided Council members with several possible uses for the funds, including equipment replacement, paying down the balance on the Bulldog Boulevard Paver Project, replenishing City water funds, street engineering work, replacement of fire hydrants, demolition of a pair of structures, investment for future projects and many others.

 

For more of this story see the Jan. 16 Outlook.

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