RECREATION CENTER PROJECT UPDATE
Greetings from the Recreation Committee! Construction has begun and the project is estimated to be completed by July 2024.
The floor plan of the proposed building is below:
The site plan is below:
Estimated Construction Costs:
Contract: $3,248,503.00
Additional Landscaping: $74,500.00
Minus Maintenance Building: ($320,000)
Total: $3,003,003.00
Estimated Annual Maintenance Costs:
Expand PT maintenance hours to FT: $23,000.00
Misc repairs to amenities: $7,000.00
Total: $30,000
Funding:
$2.5 million loan at 3.75% interest: Monthly payments – $18,226.72
$500,000 loan at 6.75% interest: Monthly payment- $7,510.25
Loan payments: $25,736.97/mo ($308,843.64/year)
Surplus from 2019, 2020, 2021, and 2022 Recreation Center line item in budget: Approx. $250,000