Zeke Jackson Outlines Quarry Debt Plan

Sister Bay Buzz

By Zeke Jackson, Sister Bay Village Administrator

• By now you’ve probably heard this news, but the Village will buy the stone quarry. The Village hopes to close on the property this July after an engineering evaluation has been completed, and reclamation should be finished before the end of 2016. When all is said and done, there will be a lovely meadow back there. Village officials are already looking for a commercial or residential developer for the site. Just so we’re clear, the Village has no intention of operating a quarry. Lots of people have asked me how in the world the Village is going to be able to afford another property purchase. I’ve outlined the plan below:

1. We’ve refinanced our 2005 Series Bonds for an interest savings of approximately $150,000.
2. We’ll seek a developer for the site before a major principal payment is due and sell the property to satisfy the debt obligation. (New development on the quarry site will add to the tax base in Sister Bay, and Village officials will be responsible with those tax revenues.)
3. If the property isn’t sold we’ll use “debt smoothing” to make minimum payments until 2019, when the current debt service schedule will be reduced by approximately $350,000, and will make a major principal payment during that year.
4. We’ll use “debt smoothing” to make another major principal payment in 2020.

• There will be a Community-Wide Rummage Sale in Sister Bay, and it will be conducted on Saturday, May 21. This year’s sale promises to be “bigger and better” and from all outward indications there will be a lot of individual sale sites in and around the Village.

• Plans are underway for an exciting new event that will be conducted in the Village on the Sunday of Memorial Day weekend: a car and motorcycle show at the Country Walk Shops. There will be antiques, classics and muscle cars as well as motorcycles on display. If you’re interested in registering for the show or would like further information regarding it please send an email to [email protected].

• The Sister Bay Dog Park will be closed until May 1. (This action was taken so that the grass inside the fenced-in area has a chance to grow.)

• Don’t forget to vote on April 5. The Village’s polling place is the Sister Bay-Liberty Grove Fire Department on Mill Road. If you have any questions regarding the election process please don’t hesitate to contact Christy Sully, the Village Clerk-Treasurer, at 920.854.4118. By the way, when you’re at the polls please wish Christy a happy birthday.

If you know of any special events planned in the village, please provide that information to me at least one week in advance of the special day(s). Also, if you have any questions about upcoming village projects or Village operations please don’t hesitate to contact me. I can be reached at 920.854.4118 or [email protected].