Hillsboro selling $138 million of bonds for projects

The Hillsboro City Council last week authorized staff to execute the sale of bonds related to several capital projects, including the Hillsboro Hops ballpark , a new police headquarters and a new fire station.

The city’s contribution to ballpark construction, $18 million, is to be paid for with transient lodging taxes over time but secured by the Strategic Investment Program. Bonds would be sold on a taxable basis due to the private use of the facility. The staff is considering using cash reserves on hand instead of borrowing to reduce long-term costs at higher taxable interest rates.

The city also plans to sell $30 million in revenue bonds to build two or three fields to replace the two fields displaced by the new Hops stadium.

Bonds totaling $70 million will be sold to cover the cost of Hillsboro’s new police headquarters, which will replace both the west and east precincts. The project is currently in the design phase. Construction is scheduled to start in summer 2025. Debt service will be paid from the Strategic Investment Program.

The design team includes DLR Group (architect; mechanical, electrical and plumbing engineer; and structural engineer); DOWL (civil engineering, land use, planning and landscape); Kittelson & Associates (traffic engineer); ABD Engineering and Design (acoustic and audio visual); and others. A general contractor has yet to be determined, city spokesperson Krista Snell stated in an email. The city is currently considering eight proposals and will conduct the first round of interviews this week.

The bond ordinance also includes $20 million for the new South Hillsboro fire station, which may include a disaster operations center and space for police and related improvements. According to a city staff report, the project is in the design phase and construction is set to start soon; completion is expected in 2025. Debt service will be paid from the Strategic Investment Program.

According to the ordinance passed Tuesday, the city intends to reimburse itself with the proceeds of the bonds, which may be issued in multiple series.

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