Park board OKs ordinance for swimming pool bonds

The Vandalia Park Board of Commissioners last Tuesday took another step toward funding the major rehabilitation of its community swimming pool.
At a special meeting, commissioners approved an ordinance for alternate bonds, which would generate $390,000 toward the pool project, estimated to cost about $1.275 million.
They planned to meet again this week to approve another ordinance, one for general obligation bonds that would generate another $353,000.
In addition to the bond issues, the park district plans to fund the project with a $400,000 grant from the Old Capitol Foundation.
The park district last fall was granted a $315,000 contribution in Tax Increment Financing funds from the city, and those TIF monies will be applied to repayment of the alternate bonds. The balance of those bonds will be paid with surplus monies in the park district’s general fund.
The general obligation bonds will be paid off through a tax levy over a 10-year period.
Also being put into the fund for the pool project are monies raised by the Vandalia Municipal Swimming Pool.
Thus far, Manager Lisa Robbins and the pool staff have raised $31,000, Robbins said at the district’s March meeting.
The renovation project includes a new deck, major work on the pump house, renovating the dressing areas, replacing slides, fencing work, and adding a zero-entry area and water umbrella.
And while the project includes the addition of some features, its main purpose is to address problems with the structure.
Park commissioners earlier worked on a state grant to help fund the project, and as they discussed at their regular meeting earlier this month, the district was fortunate not to have been awarded a grant.
That’s because new Illinois Gov. Bruce Rauner recently put a halt to the distribution of such state grants.
Had the district planned on and received such a grant, it would be scrambling to replace those state funds.
 

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