Walton Hills Council Approves Infrastructure Projects, Debt Reduction Plan

Walton Hills Village Council took action on several key financial matters during their committee meeting on October 8, advancing plans for infrastructure improvements while maintaining focus on debt reduction.

Council approved a contract with CMG Contracting LLC for $156,947 to replace a culvert at South Meadow Park drive. The project, which came in well under initial estimates, will be reimbursed through the Ohio Public Works Commission’s State Capital Improvement Program, meaning the village will not bear the full cost despite fronting the money to the contractor.

The village also moved forward with issuing $1,655,000 in bond anticipation notes, representing a continued reduction in outstanding debt. Municipal advisor Matthew Stuczynski explained that the village is accelerating debt paydown, with this year’s payment of $165,000 eliminating the oldest note from 2015 entirely. The previous year’s debt stood at $1,820,000.

Stuczynski emphasized the importance of the timeline, noting that new notes must be sold by October 28 and closed the day before existing notes come due, as the village does not have sufficient cash flow to pay off the old debt without proceeds from the new notes.

The debt being refinanced covers multiple road projects dating back to 2015 and 2016, including work on Alexander Road and Northfield Road. Council discussed plans for the 2026 budget to potentially pay down an additional $250,000-$275,000 to eliminate more old notes.

Council also introduced a policy on reemployment of Ohio Public Employees Retirement System retirees for first reading. The policy, developed with HR consultants, addresses requirements for rehiring retired public employees and includes provisions for public hearings when positions are subject to council vote.

Discussion touched on preserving cash reserves in light of potential state property tax changes that could temporarily disrupt village funding.

The council meeting followed recent planning commission actions where members approved a restaurant expansion while tabling a signage decision.

The village reminds residents of the haunted hayride event scheduled for October 13 from 5:30-8:30 p.m., featuring crafts and games for children.