Mayor's Corner:Spring Is Around The Corner
Spring is around the corner and I am excited to share some significant developments that are currently underway throughout the City.
I am proud to announce that as of March 3rd, the City of Lakewood has been given a high-grade investment rating from Moody’s Investors Service, a “Big Three” credit rating company that determines an entity’s financial health. Lakewood’s municipal notes were given a MIG rating of 1 and a credit rating of Aa2, indicating a very strong capacity to meet financial commitments. This is a win for Lakewood, as these ratings influence interest rates and demonstrate the City’s growth despite battling the pandemic over the past twelve months.
The City continues to install LED streetlights with funds from the NOPEC Energized Community Grant Award. Since beginning this program, almost 1,000 streetlights have been replaced, amounting to an annual energy savings of $45,000 and a decrease in energy consumption of 14%. The city will continue the streetlight conversion process utilizing the $197,322 in 2020 NOPEC grant funds, benefiting residents and businesses by reducing the city’s energy consumption, saving taxpayer dollars, and increasing safety.
The second of two virtual conversations concerning the Cove Church renovation project will be held on Tuesday, March 23rd at 6:00pm. Citizens are encouraged to join, provide feedback, and express any hopes or concerns they have about the project. You can visit onelakewood.com/event/cove-church-community-engagement-meeting-2/ for more details about joining the meeting.
The Detroit-Sloane intersection upgrade project is progressing and is scheduled to be completed later this year. This project involves a complete overhaul of the intersection including a water main replacement, sewer improvements, an extension of the trail from the Metroparks into the city, and a public art component. NOACA and ODOT are contributing $1.4 million of the project’s $2.5 million cost. Our Public Works Department is expected to begin work in April and have the entire project completed by November.
A beautiful and sustainable Lakewood is important to my administration and Lakewoodites. I look forward to what other opportunities this year will bring. Stay happy and healthy.