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Agenda Item: 15 (e) |
Prepared By: Casey Lucius, Ph.D., Interim City Manager |
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Business: City Council Item |
Department: Executive |
Resolution - Approve a Bond Referendum Not to Exceed $55 million General Obligation Bonds in One or More Series to Finance the Construction of Transportation and Mobility Improvements, Calling a Bond Referendum for the Electors of Marco Island on August 18, 2026 - Casey Lucius, Interim City Manager
BACKGROUND:
At the March 2, 2026 City Council meeting, a majority of the Council agreed to place a $55 million general obligation bond on the ballot for Marco Island voters. This amount would support the following projects over ten years:
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Replace two bridges |
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Repair three bridges |
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36 lane miles catch-up paving |
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Annual paving (ten years at $1.68M/yr) |
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Traffic controls and ped safety upgrades at five intersections |
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Collier/E. Elkcam Cir. turn lanes and through lanes improvements |
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Barfield/Bald Eagle Traffic Signal |
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Median landscaping restoration |
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6th Ave./Elkcam shared path |
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Bald Eagle shared path (Old Marco) |
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Winterberry shared path (Heathwood to Collier) |
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Bald Eagle bike lanes (San Marco to Collier) |
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FUNDING SOURCE / FISCAL IMPACT: It is proposed that the proceeds from the bond will fund a 10 year infrastructure plan.
RECOMMENDATION: Approve the Resolution 26-16 for bond referendum not to exceed $55 million general obligation bonds in one or more series to finance the construction of transportation and mobility improvements, calling a bond referendum for the electors of Marco Island on August 18, 2026.
POTENTIAL MOTION: “I move to approve the Resolution 26-16 for bond referendum not to exceed $55 million general obligation bonds in one or more series to finance the construction of transportation and mobility improvements, calling a bond referendum for the electors of Marco Island on August 18, 2026.”