The Oak Ridge City Council on Monday will consider whether to issue bonds of up to $16.5 million to build a new Oak Ridge Preschool and Oak Ridge Senior Center, and redevelop Scarboro Park.
The two projects have an estimated cost of roughly $16 million, according to the City Council agenda for Monday. The bond resolution includes about $500,000 extra for the costs of issuing the bonds and for project contingencies.
The Preschool and Scarboro Park improvements have a total estimated cost of about $12.5 million. About $11.1 million of that is for construction.
The Senior Center has a total estimated cost of roughly $3.5 million. About $3.1 million of that is for construction. [Read more…]