The Pella City Council approved financing for the Pella Fiber telecom utility at a special meeting Tuesday.

Council approved three separate loan agreements on the agenda related to construction of a fiber optic network to every City of Pella resident and business, as well as for start-up costs associated with the utility, with up to $10.4 million potentially included in this round of financing, as the accounts will be drawn on a need basis through reimbursement.

Additionally, the council also approved the construction contract and bond with Excel Utility Contractors for the outside plant portion of the project, which will cost $7.4 million.

Following regular business, City Administrator Mike Nardini gave a presentation during policy and planning to provide an update about development in the community. The council received a preview of a development agreement for the Prairie Ridge Development, which would bring 93 single family housing units priced around $250,000 and 25 townhomes priced between $180,000 to $220,000. The total infrastructure cost will be approximately $5.6 million, which includes electric and street projects completed by the developer and a water connection from south of Washington Street to the new development for the City of Pella.

Council will consider further action at their next regular meeting on May 19th.