The first reading of an ordinance related to financing of the Bridgeport Indoor Sports and Recreation Complex was passed during a special meeting of Bridgeport City Council Monday evening.
BRIDGEPORT — The first reading of an ordinance related to financing of the Bridgeport Indoor Sports and Recreation Complex was passed during a special meeting of Bridgeport City Council Monday evening.
If passed on second reading, the ordinance would secure the bonds issued for the rec center project in the event the city’s 1% sales use tax is no longer in effect and would authorize city officials to execute and deliver the documents necessary for the amendment.
WesBanco, the institution behind the project’s $40 million financing agreement, requested the amendment be made prior to the city awarding the project’s construction contract, according to Bridgeport Mayor Andy Lang.
“It’s a little bit of clarification that we needed done for the financing with WesBanco, that they wanted done,” he said. “We were down to where we were ready to award the contract; the lawyers were reviewing everything; and the bank came back and said, ‘There’s one little thing that’s in your documents that we have to clarify.’”
Lang emphasized that the finances for the rec center project are secure and there are no plans to eliminate the city’s 1% sales tax; the amendment is just a legal formality requested by the bank.
“This has all been fashioned around the 1% sales tax, and this has been fashioned around what the bank wants,” he said. “In no way, shape or form will this project ever become a burden to the general fund of the city of Bridgeport.”
Council hopes to vote on awarding the construction contract during its Aug. 26 meeting, so the special meeting was called in order to allow for the two required readings of the ordinance, Lang said. The second reading of the ordinance, as well as a public hearing on it, will precede council’s vote on the contract at the Aug. 26 meeting.
A.M. Higley’s bid was $37 million for 485 total calendar days of work.
The rec complex is a 155,000-square-foot multi-use facility planned for a site near the city’s current recreation complex on about 60 acres of a 125-acre property in the Charles Pointe development.
Council member John Wilson said the finished facility will be an asset not just for the residents of Bridgeport, but for all of the region’s residents.
“Yes, this is being built in Bridgeport,” Wilson said. “But a facility like this is going to reach out to all of North Central West Virginia.”
Senior Staff Writer Charles Young can be reached at 304-626-1447 or cyoung@theet.com
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