22 December 2010
Done?
HMDA approved an increased interest rate for the Big Sandy Superstore Arena's bonds, from 7.5% to 8.5%. This would lower the actual amount of money the Arena would have to work with by $200,000-300,000, which in classic fashion is about how much it would cost to do all the ice work they wanted to do in the first place. WSAZ says, however, that they are looking to get a "lower" interest rate, so I don't know if 7.5% is still doable. If it is, then we're still looking at ice. If not... well I'll post something up here and a few other places in that case. I've had a rough go of it the last few weeks, and I have a nice little rant building up in me.
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4 comments:
What exactly is their problem there? Why don't they understand how good a thing having a functioning ice plant is, not just to attract another hockey team, but other events that bring business and it's accompanying $$$$ to town?
Sheesh, just fix the ice plant and be done with it already!
The problem now is that the interest rate increased. They only approved spending $5.1mil, and with the interest rate at 7.5% they can do all the things they were going to do. If the interest rate increases, that decreases the amount they ACTUALLY have available to work on the arena.
This is terrible news. I was actually beginning to do some early trip research in hopes of making a run down. I hope they find away to salvage this
We're gonna be working on it in one shape or another. Between myself and Bill Sawyers, IMO we've invested too much energy in all of this to just have it sputter out like this.
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