Council hears bill for crime lab bonds

The bonds are through 14 area financial institutions that in early 2006 offered to help finance the lab with a loan that’s interest-only for its first five years. The city and Greene County can pay off the principal during that time or refinance the remaining debt to a 20- or 30-year loan.

The bonds, in addition to $1.5 million in federal funds and $1.9 million from the state, will fund renovations of the former L.E. Cox Building at 440 E. Tampa into a regional crime lab. Local law enforcement officials have said a lab is desperately needed, as wait times for sending evidence for processing at other labs throughout the state can be several months.

Projected renovation costs initially came in at $7.5 million, but the lab’s design was revamped twice to reduce the estimate to about $5.5 million.

Council is scheduled to vote on the bonds at its April 9 meeting.

Construction is slated to begin in April and should take 12 months.