Premium Partners

Improvements Would Raise Park Board Debt to $30M

AthleticBusiness.com has partnered with LexisNexis to bring you this content.

Copyright 2014 The Bismarck Tribune, a division of Lee Enterprises
All Rights Reserved
The Bismarck Tribune

A $3.48 million improvement district created by the Bismarck Park Board on Thursday would raise the park district's debt to more than $30 million, Park Finance Director Augie Ternes said.

A public hearing on the improvement district will be held 5:15 p.m. on Feb. 20 at the City/County Building.

The improvement district would be used to fund parts or all of five new projects in 2014:

  • The 1.4-mile Edgewood shared use path that will span from Century Avenue to 43rd Avenue. Its total cost is estimated at $849,000. The park district received two grants for the project totaling $427,592. The improvement district financing would fund $421,575 more.
  • The $3.5 million in renovations at the Hillside Pool. The park district will use the nearly $1 million in tax increment finance funds given by the city, a $200,000 grant and $2 million from improvement district financing to pay for it. The park district is also applying for another grant to fund the balance. Work on the pool renovations are scheduled to begin this fall, executive parks and recreation director Randy Bina said. The new pool features should be ready for use in the summer of 2015. Improvements will also allow year-round meetings to be held in parts of the facility.
  • $102,340 for new features at the Lions Skate Park.
  • $781,698 to fund a new parking lot at the Bismarck Municipal Ballpark
  • $91,371 for a sanitary service line and sidewalks for Tatley Eagles Park

Ternes said the improvement district would not add new special assessment property taxes for the neighborhoods near projects. "All the 'specials' will be assessed against park district property," he said.

The bonds in the new district will be repaid over 15 years through the existing park mill levy, Ternes said. He expected the bonds for the new improvement district will be repaid at a rate of $225,000 per year. He said the entire debt of the park district is being retired at $2 million per year through the general mill levy revenue.

The park board increased Bina's annual salary from $112,296 to $116,226 to be comparable to the mid range of others holding that position in the region.

(Reach LeAnn Eckroth at 701-250-8264 or leann.eckroth@bismarcktribune.com)

 

January 17, 2014

 

 
Copyright © 2014 LexisNexis, a division of Reed Elsevier Inc. All Rights Reserved.
Terms and Conditions Privacy Policy
AB Show 2022 in Orlando
AB Show is a solution-focused event for athletics, fitness, recreation and military professionals.
Learn More
AB Show
Buyer's Guide
Information on more than 3,000 companies, sorted by category. Listings are updated daily.
Learn More
Buyer's Guide