HOLYOKE, Mass. (WWLP) – Holyoke Mayor Alex Morse proposed a $21.7 million bond issue to the city council on Tuesday. The bonds would be used to invest in everything from new parks to new traffic lights and new signage throughout the city. It would also allow the city to finish necessary construction projects.
Holyoke would borrow the money over a 20-30 year period, but the actual amount issued and spent may be much less than the proposed $21.7 million. It all depends on the city’s ability to secure state and federal grants to offset the costs of the projects. “There’s been a lot of divestment in this city for decades,” Morse told 22News, “so we’ve worked with department heads to make one of the biggest investments in the history of this city through this bond package.”
Morse said that it is now in the hands of the city council to decide how much will be invested and spent. The spending would occur over multiple years in an effort to limit the short term financial impact on the city. Morse added that the money would also be used for municipal upgrades, including new voting machines, an updated phone system and a modern radio communication system for police, fire and DPW employees.