The Village of Great Neck authorized issuing about $3 million in bonds last week, with officials saying it will likely go to road repairs and equipment replacements for the public works departments.
Village Clerk-Treasurer Joe Gill said the three year capital plan for fiscal 2019 to 2021, which outlines nearly $3.06 million in future spending and was featured in the approved budget for 2018-19, serves as “the basis for that borrowing.”
The bulk of the $3 million would go toward road construction and paving projects, the capital plan suggests, with $520,000 to be spent each fiscal year on a slate of roads and sidewalks for a total of $1.56 million.
“It’s not finalized, but in the budget it does list what we are targeting,” Gill said.
Gill said the board decided to authorize the use of bonds because interest rates will likely get higher. He also said that the village has not “bonded any money since 2013” and done “minimal” road work in recent years.
Some of the roads – which are noted as “tentative” in the capital plan – include Van Nostrand Ave., Polo Road, Strathmore Road, Cornelia Place, and Allen Lane.
The village plans to replace a bucket truck, two pick up trucks, a parking enforcement vehicle and buy other equipment for $340,000 this fiscal year, according to the capital plan.
They will then spend $286,000 next fiscal year for a new dump truck, leaf machine, pick up truck and skid steer, and $290,000 the year after on a pick up truck and sweeper, the plan suggests, for a total of $915,000.
The capital plan also budgets $100,000 toward constructing the Essex footbridge this fiscal year, $250,000 for the digitization of records, $200,000 for a project that’s “TBD,” and $33,800 over three years for equipment for other departments.