Greenwood Newsletter March 05, 2014
More financial progress for Greenwood
David Moll, Chairman
At the council meeting February 25th, we refinanced one of our two water bonds. This refinancing over the life of the bond will save Greenwood just over $28,000. With the Federal Reserve printing money like it’s going out of style, we were able to take advantage of the low interest rates. Our beginning interest rate is 4/10th of one percent, going all the way up to 3.0% in year 2023. We will have another water tower bond we can refinance next year if we want. When I say we can refinance a bond that is somewhat of a misleading term. The rules of these bonds are this: For the first five years of the bond, we are not allowed to pay off any extra principal amounts. At the end of five years, we can either make accelerated principal payments and pay it off early, or refinance it. It’s a basic math problem at that point where you look at the current day interest rates and the amount you have in the bank.
Also at the meeting on the 25th, we made a change to our insurance policy removing the coverage on our electrical poles, wires and transformers. Before this decision was made, I spent quite a lot of telephone time with the assistant director of the Nebraska Emergency Management Agency (NEMA). This change was recommended by him because of how his agency handles disasters. To take down a large section of our grid has to involve a disaster such as a tornado, ice storm etc, and this is exactly what NEMA was set up for. We would still have to pay a percentage of the repair, but insurance payments cost us every year where disasters occur very seldom.
It appears as though Midwest Coop will be building another grain bin. I’ve had numerous conversations with the Coops management on electrical power needs, some of their questions I’ve needed to involve an electrical engineering firm to get the correct answer. We easily have the capability to power a new bin and is exactly why we spent the money to do the electrical analysis last year. The first modification to our electrical system involves the Coop agreeing to a utility easement that will serve two purposes: Re-power the street lights on West Street we disabled due to a safety issue: Reduce the load on one of our electrical phases.
Our TIF modification for $500,000 in additional funding is virtually done. The Community Development Agency (CDA) has passed it – which is the same as the village council -- plus Planning and Zoning has recommended it.
Cass County Planning and Zoning: In February, I was voted onto the Cass County Planning and Zoning Committee after being recommended by former County Commissioner. Before putting my name in for consideration, he and I talked about how Greenwood and its surrounding area needed a representative and my final decision was based on what’s good for our village. I’ve been to two Comprehensive plan informational meetings and one regular meeting so I’m just getting started but I can say the Greenwood and Mahoney exits are high on the list for attention. While driving 65 miles round trip for each meeting doesn’t excite me, however being recommended for this position is what happens when positive attitudes and positive goals are implemented for the good of all the residents.
Classes will be taught by Lisa Steiner, a certified Zumba instructor. Lisa has been doing Zumba for a few years, and grew up in dance classes. She loves sharing the joy of Zumba with others and looks forward to teaching you some new moves!
GREENWOOD HISTORICAL SOCIETY/METHODIST CHURCH
Here is a look at the Omaha area statistics which are similar to what Cass County is experiencing.