Pioneer Press 06/13/2008 04:56:39 AM GMT
Vadnais Heights planning area sports complex with ice rinks, pool, fitness center
Residents of Vadnais Heights could soon get a $25 million sports complex รข€" and city officials say it won't cost taxpayers a thing. The city is working with a developer and a nonprofit organization to formalize a plan for the complex, which they say is much needed and long overdue. If all goes as planned, the project would be funded by tax-exempt bonds, with the city acting as a conduit lender and a partial investor. The city did pay for a $25,000 market study, which is in the works. "The city might be contributing a few dollars, but not tax dollars," Mayor Susan Banovetz said. "The financing of it is really intriguing and innovative." Nothing is final or approved yet, but a general plan is in place, said Mark Bigelbach, the lead developer and a former Vadnais Heights City Council member. The proposed 240,000-square-foot building will include two swimming pools, two ice rinks, a gymnasium with multipurpose courts, an indoor turf field, a fitness center and possibly a restaurant and a pro shop. It would occupy 20 acres at the northeast corner of County Road E and Interstate 35E, bordered by Labore Road. Lease fees from participating sports groups and building occupants will be used to pay off the bonds, said Dan Nelson, attorney for Community Facility Partners, which will be the mortgage holder. The nonprofit was created to bring together small organizations, on the premise that while they can't fund a project like this independently, together they can. Each will contribute enough for the complex to be self-supporting, he said.
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