New Senior Center lease agreement goes to commission for approval
Carbon County's Recreation and Transportation Special Service District (RTSSD) met on June first to discuss and approve further actions on the the new senior citizen's center that is to be built on the old airport site by Fairgrounds road. The district has received a total of $8.4 million from the Utah Permanent Community Impact Board (CIB) for the project, half being a loan and the half being a grant. RTSSD wants to keep the loaned portion of the money in a series of "bonds" that will be interest free and payable in under 35 years, according to the district's resolution.
Although a 35 year maximum has been set for repayment, the district has set repayment estimates for around 25 years. The bonds themselves will be available for public purchase, but at zero percent interest, the members don't expect any buyers."Who the hell's going to buy a bond at zero percent," said district member Jerry Jensen during the meeting. The bonds as described by Doug Rasmussen the accountant for the RTSSD are "taxable lease bonds," intended as a "lease agreement with the county." The county, which owns the 14 acre building site, will, as is tentatively approved, lease the actual building from the RTSSD in $168,000 payments to RTSSD until the loan is payed off. This situation should even the many of the costs associated with the project out.
When the loan is payed off, the county will retain full ownership of the facility, but until then will only pay for its operation and maintenance because it will be technically owned by the RTSSD. "Built and owned by this board," is how member Neil Breinholt summed up the current situation towards the end of the meeting.
Additional money was also approved for East Carbon's Grassy Creek Parkway. The walkway, which is nearing completion, was in need of an additional $24,000 in order to take the trail 250 linear feet across highway 123, and while the money was approved, the preapproved $75,000 for the project was also released. District chair Pace Hansen was impressed by the city's efforts. "It's amazing to see what East Carbon has done," he said during the meeting. East Carbon city council member Andy Urbanik, who was requesting the money, believes that "Attitudes of citizens have really changed in East Carbon (since the improvements)."