Malden Mayor Gary Christenson has unveiled a proposed $22 million bond to pay for a three-year capital improvement plan that includes repairs for streets and sidewalks, renovations to parks and some city facilities, and funding for an anti-crime initiative.
The biggest ticket in the plan is $15.1 million allocated for repairs to streets, sidewalks, and parks, according to an outline of the plan. This will include renovations for Callahan Park, Fellsmere Pond, Miller Park, Forestdale Park, Devir Park, Pearl Street Tot Lot, and about $700,000 to pave and improve a city bike path, according to the proposal.
The city's Fire Fepartment would receive $3.9 million under the plan, to renovate the Central Fire Station and replace a ladder truck.
If approved, the city's total debt and interest expenses would equal about 10 percent of the city budget, Christenson said in a letter to the City Council.
"I anticipate that the estimated costs will be supported by the new property tax revenues generated from upcoming developments throughout the city," Christenson wrote.
The proposal was handed over to the council, which is expected to review it in a committee meeting next week.