The City of Shreveport is working on a plan to repair the city's streets. The City Council is considering spending $9.7 million to repave more than a dozen streets as part of its Minor Asphalt Arterial Program.
The money is coming from the "Streets Special Revenue Fund." This was created when the city council raised the franchise utility fee from two percent to five percent in order to pay for repairs to city streets. Mayor Cedric Glover said the fund generates about $6 million a year.
Line Avenue, Williamson Way, Linwood Avenue, Buncombe Road, and Mansfield are some of the more costly street repair projects on the list.
Councilman Jeff Everson said this plan allows for the city to do the repairs before the end of the year.
"We can cover a large amount of streets and it would be done in all cash," said Councilman Everson. "It would be completed before the end of the year so this is something we'd be able to get done quickly, and make a significant impact in a short amount of time. "
Mayor Cedric Glover said this "pay as you go" method would be ineffective. He proposes bonding out the money in the fund to generate enough revenue to pay for $60 million worth of street repairs. This would allow more roads to be fixed, including those that have concrete surfaces.
The city would then have to pack those bonds within 25 years.
"We can leverage that money in a manner that gives us a chance to have a larger pool of money to be able to address more streets. Essentially fix more streets faster and quicker than a pay as you go method," said Mayor Glover.
The Mayor's plan would allow $13 million in repairs to Linwood Avenue, along with $6 million in repairs to Hollywood Avenue.