The Edwardsville City Council voted unanimously on Mar. 9 to authorize a $3.79 million general obligation bond sale aimed at financing long-awaited street repairs and converting temporary debt into permanent financing.
The three resolutions adopted at Monday’s meeting represent the city’s most significant infrastructure investment in recent memory, covering repairs to 98th Street, 102nd Street, and residential streets across four subdivisions: Castle Park, Williamson Farms, Edwardsville Heights, and Rock Ridge.
Permanent financing replaces temporary notes
Financial advisor Clayton Kelly explained to the council that the city originally issued $5 million in temporary notes in 2023 to fund several road projects, including 98th Street Phase 1, Kansas Avenue, Richland Avenue, and 106th Street. With the first two projects now complete and costs finalized, approximately $1.97 million of that temporary debt can be rolled into permanent 20-year financing. An additional $1.82 million will fund the newly authorized street projects.
Kelly estimated the interest rate on the bonds at roughly 4% in the current market, though he acknowledged recent international volatility. The city plans to receive competitive bids at its April 13 meeting, with funding expected by May 7.
When a council member asked what would happen if rates spiked before the sale, Kelly said the city retains flexibility to delay. “It gets complicated with a competitive sale where you’ve posted a date,” he said, but added that pushing the timeline back remains an option if conditions deteriorate.
Streets chosen based on condition ratings
City Manager Mark Mathies told the council the roads selected for repair were drawn from the city’s five-year capital improvement plan, prioritizing those in the worst condition that could realistically be completed within 24 months.
Among the projects, 98th Street north from K-32 was flagged by pavement condition assessments as having a travel surface in particularly poor shape. In the same corridor, 98th Street from Metropolitan Circle to K-32, was also identified for patching and replacement work. Mathies warned that without action now, a full reconstruction of that segment would be six or seven years away.
Subdivision streets in Castle Park, Williamson Farms, Edwardsville Heights, and Rock Ridge are slated for micro-surfacing, crack sealing, and asphalt repair, which Mathies described as minor but impactful maintenance intended to extend the life of those roads.
The three resolutions related to bond issuance all passed 4-0.
Concern over property taxes
During the public comment period, resident Dave Johnson urged the council to address 102nd Street, which he said is long overdue for repairs. He also praised a city worker who had been trimming easements with exceptional thoroughness.
Johnson then turned to the topic of rising property appraisals, telling the council his assessed value had climbed $120 thousand over three years, including a $39 thousand jump in a single year. He expressed support for a proposed three percent cap on appraisal increases under consideration at the state level.
“It’s meaningless to me — I bought this house in 1994 and I’m not selling it,” Johnson said. “I’m never going to realize that kind of money.”
Contractor terminated on sidewalk project
In his report, Mathies disclosed that the city is terminating a contractor working on the 104th Street sidewalk extension project. He said the contractor lacked proper permits, failed to communicate, and had an excavator strike a gas line — all without on-site supervision.
“The trench is very deep, there was a language barrier, they didn’t call for markings, and they hit a gas line,” Mathies said. The contractor is bonded and insured, and the city expects the surety bond to cover completion costs.
The incident prompted a broader discussion about the city’s bidding process. One council member questioned whether the lowest bid should always win, suggesting that more thorough vetting of contractors might prevent similar problems. Mathies said the contractor’s bid materials and public record showed no disqualifiers at the time of award, but acknowledged the situation was a lesson learned.
“I’m not pointing fingers,” the council member said, “but in my experience, lowest isn’t always the best.”
Looking ahead: FIFA World Cup and short-term rentals
Mayor Carolyn Caiharr closed the meeting by raising the upcoming FIFA World Cup, noting that while Edwardsville may not be a primary tourist destination, local restaurants and short-term rental properties could benefit from increased traffic. She suggested the city promote those businesses while also ensuring they are in compliance with licensing and transient guest tax requirements.
Mathies cautioned that pending state legislation could affect how cities regulate short-term rentals, and said he would review the matter before any action is taken.
The council also briefly entered executive session to discuss ongoing litigation before adjourning before 7:00 p.m. The next regular meeting is scheduled for Mar. 23.