Monroe Mayor Ralph Okerlund estimates it will cost about $645,000 to improve and pave streets, some of which have deteriorated because of poor drainage and standing water.
City officials will apply for a loan from the Utah Community Impact Board to help begin the improvement program. "In our situation, the most money we can borrow is about $250,000," Okerlund said. "Realistically, we hope to be able to get about $220,000."Because there won't be enough money to improve and pave all of the streets, the City Council will decide which ones will get the highest priority.
Okerlund said Class C road funds will be used to pay off long-term indebtedness. Some reserve funds will also be spent. City Council members hope to obtain a grant, but if not, a low-interest loan will be needed.
Councilman Dick Payne said he worries about tying up too much of the city's road funds in loan payments because it could leave the fund short for other maintenance.
The mayor said the application for financial assistance from the CIB won't be submitted until February.