October 4, 2019

Park Board Considers Bond

On Friday, Oct. 4, the Park Board will host a special-called meeting to discuss with staff and its legal team a way to finance some long-standing park projects that have been planned with community input at the forefront.
Currently, bond rates are at their lowest level in recent history. The idea is to seek a new bond, structured in a way that keeps the Town’s overall tax rate neutral and brings to completion projects that can contribute to the positive growth the Town has experienced recently.
Such a bond would help meet the goals established and driven by community input in the Parks Strategic Master Plan and the Town’s Strategic Plan, which includes improvements to Stephens Park, development of the Magee property at CR 300 N and CR 900 E and completing phase 1 of the White Lick Creek Greenway, which connects Arbuckle Acres Park to Brownsburg’s northern residents. (To learn more about Stephens Park improvements, click here; for more info on the Magee property, click here.)
Seeking bonds to complete parks projects when rates are low makes good fiscal sense. A bond can stretch park dollars further, allowing a balance between new development and improving current park infrastructure. Just as homeowners must think strategically about how to stretch their budget dollars, so must the Parks Department. For example, many homeowners refinance loans when interest rates drop. And many take on debt to improve the value of their homes by doing things like room renovations or room additions. Investing in park development plays an important role in the quality of life of our community.
The Park Board will also hold a public hearing on October 22 at 6:30 pm in the Town Council Room to hear community opinion on the bond.