Saving Crystal $6 Million
By Andrew Richter
Its time we put a price tag on what paying cash for the Crystal Public Works Building saved city taxpayers. This is a sheet of debt service from the city on what bonding would have cost:
Notice that nearly $6 million would have had to have been paid in interest and the building wouldn’t be paid off until 2036. That’s $6 million out of your pocket going not to police and fire, or parks, or roads but going to pay interest on a building.
That’s what would have happened had John Budziszewski and ReNae Bowman had their way. Johnny B voted to bond the entire building with $10.5 million sitting in the bank and Bowman said she would have bonded “at least” $10 million.
The actions of Mayor Jim Adams and the current council saved the city $6 million! Let me say that again; $6 million! Think about it folks; why pay over $19 million for a $13.5 million building? Thank you to Mayor Adams and the council!