Franklin County supervisors weigh bonds, reserves and urban‑renewal for courthouse repairs

Franklin County supervisors spent a substantial portion of the meeting reviewing financing options for simultaneous courthouse projects, including tuckpointing (just under $1,000,000 estimated), electrical work ($250,000–$300,000 estimated), and a statue repair budgeted at about $68,000.

County staff reported a current special projects fund balance of approximately $816,077 and walked supervisors through options: draw from cash reserves, transfer from the general fund, pursue a general obligation (GO) bond up to $780,000 that would require only a public hearing, or place the courthouse project in an urban renewal area that permits bonding at any amount but allows residents to petition for a ballot (a reverse referendum). A full bond placed on the ballot would not be decided until the November election.

Speaker 1 noted that the county could combine a bond with reserve spending to lower levy impacts and provided an example of how debt service could affect a property with a taxable value of $75,000 (an estimated annual cost between roughly $8.25 and $12.75 under one scenario). Board members asked staff to run levy‑rate and debt‑service estimates for the fiscal‑year budgeting process and to report interest‑rate assumptions; Speaker 1 said she would provide those numbers within the next couple of weeks for the board to decide.

Board members emphasized uncertainty about state legislative action on property tax reform and the importance of preserving reserves. No final financing decision was made; staff were directed to produce number scenarios for the board’s next meeting and the upcoming budget calendar.