Veterans memorial agreement vote expectedThe Woodbury City Council plans to vote Wednesday, Oct. 8 on a recommendation by city staff to enter an agreement with the Woodbury Lions Veterans Memorial Council.
By: Hank Long, Woodbury Bulletin
The Woodbury City Council plans to vote Wednesday, Oct. 8 on a recommendation by city staff to enter an agreement with the Woodbury Lions Veterans Memorial Council.
The agreement will allow the organization to borrow money from the city for the construction of a Veterans Memorial on city property.
Members of the Woodbury Lions and two local veterans organizations formed the Woodbury Lions Veterans Memorial Council earlier this year in an effort to organize and raise funds for the construction of an official veterans memorial in the city.
Last spring the group began talks with city official on a location for the memorial and the possibility of a one-time loan from the city for construction costs.
According to a city staff report on the proposed agreement, the nonprofit group plans to finance the construction and maintenance of the Veterans Memorial with sales of pavers and additional fundraising with the projected cost to be $350,000.
Details of the proposed agreement state the total city loan funding shall not exceed $266,000.
The agreement also state the city will make a one-time $25,000 grant available for the construction of the memorial, which is planned to be located in the Rose Garden adjacent to Woodbury City Hall.
The agreement states the loan must be paid back to the city within five years at five-percent interest upon completion of construction.