Duarte : Civic Center Bond Issue OKd
The City Council approved an agreement Tuesday that will provide funds to expand the civic center complex and build low- and moderate-income housing through the sale of $6.8 million in bonds early next year.
The investment firm of Chilton & O’Connor Inc. will underwrite the bond issue through a contract with the Duarte Redevelopment Agency Board. The bond sales are expected to raise $1.1 million for the Town Center expansion and $4.6 million for new housing.
Preliminary designs for the expanded civic center include a permanent senior center and the relocated city library. Donald Pruyn, director of community services, said the project is expected to be completed in three to four years. Pruyn said he expects the bonds to go on sale in January or February.
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