A resolution authorizing a $500,000 loan from Genoa Bank for additional costs incurred during the construction of a new township administration building has been approved by the Lake Township trustees.
Under the agreement, the 15-year loan will have a 4 percent interest rate but the township will have the option of refinancing at seven years.
There is also a $500 fee to cover costs for processing the loan.
The trustees said the loan is needed to pay for upgrades to the building not covered by insurance.
The former administration building, located at 27975 Lemoyne Road, was destroyed by a tornado last June.
Mark Hummer, township administrator, said about $160,000 will be used to pay for a metal roof, which has a longer expected life than would a shingle roof.
“In the long run it will pay for itself,” he said.
The loan will also be used to cover the cost of a larger generator for the new building, which will cover about 14,184 square feet, making it slightly larger than the former building.
An additional parking area and driveway are also not covered by insurance as well as much of the exterior lighting and a planned memorial site to be dedicated to victims of the tornado.
The trustees said the upgrades represent an effort to construct a facility that will serve township residents for generations.
The trustees retained Rudolph Libbe, Inc., as the general contractor for $1.7 million for the project.
The area in the old building used by the trustees for meetings will become a garage for emergency medical service vehicles in the new building and will be ringed by living quarters and office space for EMS personnel.
The new meeting room of the trustees will be at the western end of the building and will be about 60 percent larger than the old room and an adjacent galley-style kitchen will be nearly double the size of the former kitchen.
The emergency dispatching center will remain at the former Ohio Highway Patrol post on Lemoyne Road where the police department is temporarily housed.
Melanie Bowen, who chairs the board of trustees, said the board isn’t obligated to assume the full amount of the loan if it’s not needed.
Hummer reported to the trustees Tuesday the new building is nearing completion. Work on the fiber optics system, phone and computer lines haven’t been finished, he said, and exterior painting will depend on weather conditions.