Palmyra City Council members and city officials took the next step toward solving storm water issues in the Flower City, meeting with Steve Goehl from the D.A. Davidson investment banking firm to discuss potential funding options Thursday, Aug. 31.

Palmyra City Council members and city officials took the next step toward solving storm water issues in the Flower City, meeting with Steve Goehl from the D.A. Davidson investment banking firm to discuss potential funding options Thursday, Aug. 31.

Goehl outlined the pros and cons of several investment options, including borrowing money from local banks and potential ballot issues for taxes to support a citywide storm water project. City officials and representatives from Klingner and Associates hosted a public meeting in May to present a plan for the work, receiving input from citizens who brought photos and information about specific issues. During Thursday's meeting, everyone in attendance reached a consensus on several topics, notably that the city did not want to incur debt during the process.

Palmyra voters approved a 1999 ordinance for a 1/4-cent capital improvement tax, and Goehl and city officials discussed the possibility of two separate ballot issues to help fund storm water efforts: increasing the capital improvement tax from 1/4-cent to 1/2-cent and requesting a 1/4-cent tax for streets, bridges and other infrastructure work. Mayor Loren Graham estimated that the city needed to raise at least $200,000 per year so they could build up enough funds to start the projects, similar to the way the street department works on streets and alleys once their funds reach a certain level. He said a 1/2-cent tax generates about $225,000 each year for the city.

Council member Ken Sheputis noted that a proposed tax should be designated for capital improvements, so future projects could be completed following the storm water project.

The council members and officials thanked Goehl for his financial advice, and they will consider what they discussed and bring it up during their next council meeting at 7 p.m. Thursday, Sept. 7.

Reach reporter Trevor McDonald at trevor.mcdonald@courierpost.com