St. Cloud Council Approves New Veterinary Hospital

(KNSI) – The St. Cloud City Council unanimously approved the Savannah Ridge planned unit development agreement at Monday night’s meeting.

It paves the way for a new 12,000-square-foot veterinary hospital at the intersection of 33rd Street South and Cooper Avenue South. A majority of the speakers during public comment were in favor of the project, which got the attention of president Jeff Goerger.

He said, “I would just like to say that in my years up here, it’s seldom that we have people come forward in support of a commercial project in their neighborhood. I think it is kind of refreshing. We always hear people that don’t want it in their backyard.”

The surrounding area is mostly residential, with an undevelopable wetlands parcel adjacent to the property. The city hopes to add more commercial buildings along 33rd Street South in the future.

The cost to borrow for cities is quickly climbing. The Council heard from Certified Municipal Advisor Doug Green of Baker Tilly Monday about a recent bond sale. Just over $4.6 million in bonds were priced at 3.58%. Green compared that to interest figures seen recently.

He said, “Over the past five years it has been between one and two percent. I thought that just might be good for perspective how much more we were paying in interest rates.”

The sale was for a relatively small amount and St. Cloud enjoys an investment grade bond rating, and even still the interest rate was over twice as high as past issuances. The bond sale had nine bidders though, showing high interest among investors.

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