The Plymouth City Building renovation is another step closer to getting underway. A lease agreement was approved this week by both the Plymouth Redevelopment Commission and a newly-organized Redevelopment Authority, according to Clerk-Treasurer Jeanine Xaver.
A “recent trend of strong financial performance” has caused Standard and Poor’s to upgrade the City of Plymouth’s bond rating from A to A+. The higher the bond rating, the more favorable the interest rate the city will get when it sells bonds to fund public works projects.
The assessment comes just as the city prepares for the refunding of sewage works revenue bonds and for the sale of waterworks revenue bonds later this week.
The city is looking to finance comprehensive renovations of the Ledyard Water Treatment Plant and water main extensions. The bond sale looks to gather $5.5 million for the projects.
