The City of Homer is borrowing less money than originally anticipated to construct the new police station. In a press release last week, the city announced that it signed off on a $4.1 million bond for the project, lower than the $5 million bond voters approved during a special election in 2018.
Area residents will pay back that money via a .35-percent sales tax increase, most of which will be eliminated once the project is paid off. A portion will remain on the books to pay for ongoing maintenance costs at the new station.
City officials say the city was able to reduce the bond amount by utilizing a surplus left over from the 2017 budget. In total, the new police station will cost the city $7.5 million, a portion of which was paid for by the liquidation of the city’s permanent fund.
Construction at the site off Grubstake Avenue and Heath Street is due to start in the coming weeks. Most of the building will be built by the end of summer and the interior is expected to be complete by June 2020.