The Manhattan City Commission met on Tuesday night for what City Manager Ron Fehr called a “record breaking” quick session. A new bond rate for some city bonds, and an ordinance which allows the rezoning of a lot near Scenic Drive were on the agenda.
The City commission approved a new bond rate set around 1.6 percent. City Manager Ron Fehr says the new rates will lead to big savings of approximately $350,000. Fehr says Manhattan has been rated double A and double A Plus by the three rating agencies, and city staff will be looking to get better rates for bonds as they become available.
The new housing zone is located near Scenic drive, and will feature new dual family purpose housing. City Commissioner Rich Jankovich says the issue of drainage for the new housing into Wildcat Creek isn’t expected to be a problem. Jankovich says the developer’s engineers have placed a drainage pond on the property which result in drainage being around net zero for the area.