Grandview Heights City Council will be considering legislation to authorize the finance director to determine the best option to finance proposed improvements to Pierce Field and Wyman Woods.

Grandview Heights City Council will be considering legislation to authorize the finance director to determine the best option to finance proposed improvements to Pierce Field and Wyman Woods.

The parks advisory board is expected to present its recommendations for improvements to the parks at council's March 5 meeting. The estimated total cost of the improvements is about $3.1 million.

If the legislation authorizing the review of financing options goes through the regular three readings, it would be voted on at council's April 2 meeting.

In addition to the park projects, the city may also consider seeking financing for vehicle purchases.

Brian Cooper, a director with the Robert Baird investment firm, reviewed three financing options Feb. 21 at a finance committee meeting.

The first option, capital markets issuance, is the most common way for counties, schools and cities to borrow money, Cooper said.

The city could also seek financing through the Ohio Capital Asset Financing Program, which is offered to Ohio communities by the Center for Local Government, he said.

A third option would be direct placement with a local or regional bank.

Baird would assist the city in determining which option would provide the lowest interest rate, Cooper said.

The current market rate is the lowest it has been for several years, he said.

The process of securing financing for the projects would likely take 30 to 60 days, Cooper said.