TWINSBURG TOWNSHIP -- Trustees voted Dec. 19 to approve $700,000 in bonds for the purchase of a 20,000-square-foot portion of the previous Township Hall from the Summit County Port Authority, to store all of the township's service department equipment.
Township Manager Rob Kagler said the bond is a 10-year internal borrowing arrangement in which the township will pay back $70,000 to bondholders each December starting in 2013. The payments will carry an interest rate of 1.5 percent and can be prepaid with no penalty.
The township already sub-leases the same space for its service equipment from Pawsibilities: The Humane Society of Greater Akron, which leases space from the Summit County Port Authority, which currently owns the entire 65,000-square-foot building. The port authority also leases portions of the building to Hattie Larlham's Doggie Daycare and Boarding facilities.
The township currently pays the Humane Society of Greater Akron $3,500 per month for the space.
Initial payments on the bonds will be borrowed from other funds in the township's charter of accounts. Yearly payments will be funneled through the general fund before being returned with interest to the funds originally borrowed from.
"[Trustees] could have expended cash from the general fund but that would have reduced the number of things that the Board could consider doing early in 2013," Kagler said Dec. 28. "The money will flow into the general fund over the next 10 years and they will be able to do other things now and just have a little bit more flexibility."
Kagler said the township currently has no estimated cost for the planned renovations that will follow the purchase. Renovations may include moving truck docks, installing new lighting and separating utilities.
Although other options were explored to house the service department equipment, such as buying space in other buildings in the township's industrial park and spending more than an estimated $2 million on a new site, township administrators decided buying out the leased space was ideal, partly due to the township's previous stay in the Darrow Road building.
"The building was retrofitted to accommodate the service department several years ago, so it's a perfect fit," said Trustee Tom Schmidt. "We decided rather than go to another site and refit a building again, we would purchase that portion of the building."
"We had looked at adding onto the [current] Township Hall ... we looked at purchasing other buildings ... we looked at building other buildings. This was deemed by the Board to be the best option," Kagler added.
Currently located at 1790 Enterprise Parkway, Twinsburg Township Hall has moved several times since 2007, the most recent being from the Darrow Road location.
The purchased space will house the vehicles, equipment and supplies used by the township's service department, including plow and salt trucks, lawn mowers and more.
"One other key component is the big salt dome we had built there," Schmidt said. "It's a significant expense and to have the ability to use that uninterrupted is also a key part of that building site for us."
The salt dome was built in 2005 at a cost of about $80,000.