WARRENTON The city of Warrenton is weighing options on investments.

Bank of Astoria representatives came to Tuesday nights Warrenton Commission meeting to present a local deposit investment option that other cities like Beaverton, are implementing.

Mayor Mark Kujala said Warrenton is already participating in a short-term investment program in Salem, but there are big benefits for investing locally.

Were looking at investing it in local banks to keep the money in the community, but also, some banks are saying they can give more than the 0.5 percent interest were gaining now in Salem, Kujala said. Even though the money isnt in there very long, its worth more to us.

Short-term investments, or certificates of deposit, may only be for up to 12 months, he added.

The Bank of Astoria President Heather Seppa and representatives Stewart Williams and Kristin Talamantez were at the meeting to present the investment program.

Kujala noted other banks may be asked for their percentages as well.

The Commission decided to hold a work session at the end of March or early April to consider how to set the investments up, Kujala said. 

In other city news, the Southwest Juniper Avenue temporary street improvement was discussed. The 3-inch thick, 24-foot paving job is estimated at $60,000. It is considered temporary so it will not have sidewalks or meet city standards. The permanent fix to the problem at the site would include realignment and working with the county and adjacent properties. That is estimated at $750,000.

The permanent solution could be implemented in the next three years, as discussed at a prior Commission meeting. But for now, the temporary fix will have to do, members agreed.

The temporary project, expected to last three years, will go out for bid in late March. In the second week of April, a decision will be made and the project should be completed by the end of May, Kujala said.