New Bern aldermen approved a revenue bond order last week to pay for upgrades at the citys Kale Road building, where the utilities department is moving, and for the second phase of a planned citywide new utilities metering system.
Keith Fiaschetti, New Bern finance director, said the board adopted a revenue bond order not to exceed $3.9 million. But the bond funding will actually be $3,830,000 with a 10-year term at an interest rate of 2.15 percent for Phase II of the advanced metering infrastructure system, or AMI, and the Kale Road project, he said.
An amendment aldermen approved for the budget of the two projects also will transfer $265,100 to the AMI project and $40,900 to the Kale Road project from the water capital reserve fund to reduce the bond amount. With the additional funds from the water reserves, the board approved a total of $4,136,000 for both projects.
Fiaschetti said $2.5 million of the funding will go toward the AMI project and $1,636,000 toward the Kale Road building.
Aldermen accepted a low bid on Nov. 12 of $1,092,346.85 from Brydge and Lee Inc. of New Bern to upgrade the Kale Road building, which will be the headquarters for the citys public utilities operations. The upgrades are phase two of the project. Moving the administrative operation, about 20 administrative and staff personnel, from the utilities department at 303 First St. to 210 Kale Road at the end of August was the first phase of the project.
Jordan Hughes, city engineer, said the difference between the $1.092 million low bid and the total cost of $1.636 million (and additional $543,653.15) was used for work on the administration building, the installation of an auxiliary generator, moving and installing IT equipment, and minor modifications to the warehouse.
The second phase involves moving all the electric maintenance and operations distribution equipment and the warehouse operations at 205 First St. into the Kale Road warehouse building. That requires significant upgrades to store equipment and trucks and for preparation of the site.
Upgrades at the Kale Road site include grading, construction of equipment storage shelters behind the facility, stormwater pond modifications, and parking lot and driveway paving.
Hughes said in an earlier interview that work on the Kale Building should be completed sometime in May or June.
AMI project
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Aldermen approve revenue bond for building updates, meter project
