By Kevin Reagan | Pinal Central
Three contracts were approved Monday night by the Eloy City Council to initiate construction of a new City Hall building.
The project is estimated to cost $7.5 million and three funding sources have been identified: development impact fees, the city’s general fund and an excise tax bond.
Bond money and general funds would back the project’s most expensive portion — construction costs — estimated to be about $5.9 million. The council is scheduled to vote on a resolution in February, allowing the city to issue an excise tax bond.
