Tuesday, March 8, 2011

Council: $2 mil will go to pay airport bonds

CAPE GIRARDEAU, MO (KRCU) - In the first round of voting last night, the Cape Girardeau City Council unanimously approved a measure that will use $2 million of casino money to repay local airport bonds as well as replenishing the city’s emergency reserve fund, which had been depleted during the last ice storm.

The casino money had been set aside for improvements to Broadway and ten other civic projects as designated in the development plan with the casino.

Mayor Harry Rediger assured that these city improvements will be completed in the near future.

"We have committed to the Isle of Capri that the enhancements that were on the development agreement for the Broadway project will be done by fall of next year, prior to the opening of the gaming operation in December of 2012," Rediger said.

Using the casino funds to immediately repay the bonds will eliminate $260,000 from the city’s budget.

In other business, the council approved zoning changes to the Central Business District with the creation of a Downtown Commercial Corridor that creates residential space in the rear of the first floor of buildings, something the current zoning laws allow only with a special use permit.

Over the next few months the council will decide the specifics on how to spend a $250,000 grant from the Missouri Foundation of Health. The grant will fund nearly 40 miles of new bicycle lanes, the installation of bike racks, and bicycle education.

Matt Caldwell, KRCU


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