A petition filed by Indianola residents to the Iowa State Appeals Board regarding the use of LOST funds for the City of Indianola’s Square Reconstruction Project, commonly known as the Streetscape, was unanimously dismissed by the board earlier this week.
The Square Reconstruction Project’s lone bid came in over $2 million over the projected $6.8 million dollar bid for the project in April, with the Indianola City Council approving the use of LOST funds to make up the difference in budgeted expenses. A number of Indianola residents appealed the decision by the council to the State Appeals Board citing the use of LOST funds for the project was in violation of what voters approved.
The City of Indianola has released a response to the petition, stating the LOST referendum approval in 2016 included the use for public safety facilities, public works, and street
maintenance, and denied the use for property tax relief, with the city intending to use the funds for the Water Resource Recovery Facility (WRFF).
The city statement says that LOST funds have exceeded the $1 million projected annual estimate, and this one time utilization of surplus funds will not impact the city’s ability to meet the financial obligations required for construction of the WRRF, nor will it impact property taxes.
The Square Reconstruction Project’s budget includes 82% of the costs allocated to upgrades of aging, failing infrastructure including the replacement of water mains and sewage lines, new stormwater drainage, and ADA compatible sidewalk ramps and parking.
To view the entire release, including the green initiatives included in the other project components and funding, click below.