Assistant City Manager Dick Evans is recommending the city take out about $20 million in bonds to cover the cost of planned President Street and drainage improvements.
The costs of the projects came in about $10 million more than initial estimates.
In additition, the city owes the Savannah-Chatham school board about $10 million by the end of next year. The school board agreed to not take any of the income derived from a special taxing district along President Street about six years ago, in return for the payment.
Evans said the $29 million President Street project, which elevates the roadway to avoid flooding, will be presented to the city council on June 27 for consideration. The bond issue will have to be part of the project being approved, Evans said.