The City of Mishawaka should be debt free by next year.
That was part of Mayor Dave Wood's message during his State of the City address tonight.
The mayor says the city's future is bright.
He says Mishawaka is on tract to be debt-free in the general fund by September of 2014.
He says that would be the first time this has occurred in the city in at least a century.
"Becoming debt free will be a clear sign of our fiscal health. And being debt free is a fiscal building block for our future," said Mayor Dave Wood. "And we believe it will set Mishawaka in stark contrast to most all other governments around."
The mayor also addressed the fire at the old RMG Foundry.
He thanked the firefighters for their hard work on a blaze he said was the LARGEST in city history.
Mayor Wood also updated several construction projects, including the Bremen Highway expansion.
The plan is to expand Bremen Highway to five lanes between the US 20 Bypass and Ireland Road.
The city will start taking bids for the $2.2 million project this spring.
It's expected to completed by November.
The mayor also says McDonald's has filed a request to rezone one of the Meijer out-lots for a new restaurant.
