Kensington roads are at the breaking point.
That was the word from Village Hall Sept. 19 where Kensington Mayor Susan Lopatkin suggested that a complete overhaul of village roads is overdue.
"The roads are in bad shape across the board," said Lopatkin. "The typical life of a road is about 20 years and we're past 20 years on these roads."
With interest rates low, Lopatkin said she has been in discussion with bond attorneys and financial advisers to determine if major roadwork is something the village should consider.
A total repavement of all village roads — rather than the current "piece-mailing" approach — is needed, according to Trustees.
"If we keep bandaging it would eventually get worse," said Alina Hendler. "My feeling is to go through with the repair."
About $1.9 million in bonding could be needed for the extensive project, according to initial estimates from Lopatkin.
Based on current interest rates of nearly 2.5 percent, the bond repayment schedule would be about $170,000 per year for 15-years, according to Lopatkin.
For the project to continue, a bond resolution approval is needed by the Board of Trustees. Residents would then have a 30-day window to request a possible referendum.
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The village could possibly seek an S&P rating to possibly lower interst rates, according to Lopatkin, who said no bond money is expected to be pulled until at least March or April of 2012, if the plan goes through.
Project costs are expected to be budgeted in January into next year's budget cycle.
"I don't think it would raise taxes because we currently have a $400,000 public works budget," said Lopatkin.
The last complete resurfacing job in Kensington was completed 15 years ago, according to the mayor. At the time interest rates for the job were about 6 percent
A bond resolution vote is expected at the next Board of Trustees meeting.
"We have some wiggle room to figure this out," said Lopatkin.