Wilmington City Council authorized the issuance of bonds Thursday to finance the South Wilmington Wetlands Park and sewer separation project.
The Wetlands Park and the separation of sanitary and storm sewers in Southbridge aim to alleviate chronic flooding the community has faced for decades.
“The South Wilmington area has been declared as a flood zone for over fifty years. And it’s getting worse," said Councilwoman Michelle Harlee, who represents Southbridge. "So with the wetlands project ... it’s definitely going to help mitigate that problem. It’s going to also beautify that particular area.”
The bond issued for the wetlands park will be roughly $15 million, and the one for the sewer separation just over $1.2 million. Both bonds will be sold to the Delaware Water Pollution Control Revolving Fund.
City Councilman Bud Freel says the bonds have 20 year amortizations and rates of interest around 2 percent. He says the wetlands park project is expected to be completed in 2021, and the sewer separation in 2019.
Both bond issuance ordinances passed with nine ‘yes’ votes and four absent.
