The city s Financial Director Mike Brossart said, if approved, he believes the city will need to borrow closer to $55 million to achieve its goals.
Nearly one-quarter of the bonds, or about $13 million, would be used to finance several city capital improvement projects. One of these would be to set aside approximately $3.5 million for Lakeland officials to purchase 106 acres of vacant land in the southwest area of the city to be used for a multi-purpose recreational fields and park, according to the resolution The idea of a southwest park has been out there for a long time, City Manager Shawn Sherrouse said at Bond Committee meeting earlier this month. Now, its just a case of us cobbling it together.