This month we’d like to share financial information regarding the Community Center referendum you’ll be voting on in November. On the ballot, you’ll see the cost will not exceed $39.2 million dollars, if approved. Here’s how the construction costs would break down:
- $7.3 million for the building
- $16.3 million for the outdoor aquatic center
- $4.5 million for the sports dome
- $6.8 million for site acquisition and development
- $4.3 million in design, furnishings and contingency costs
The funding source, if approved by voters, would come in the form of General Obligation Bonds. The City would begin selling approximately 25% of those bonds in 2022, and the remaining 75% in 2023.
The impact on the taxpayer varies based on the value of your home. A family owning a $300,000 property in the City would see a tax increase of $14 per month. For a deeper look at the tax impact, please visit cottagegrovemn.gov/community center.
There are two additional questions we often get. Will Cottage Grove residents be required to pay daily user fees? The answer is yes, but residents will receive discounted rates. This is like any other community center or aquatic facility in our area in that those fees pay for things like staffing, utilities, supplies, programs and events. Those daily user fees will be determined by comparing to our local market in 2024, when the center would be completed.
The other question we often receive is how will the City cover operational costs? It is estimated that starting in 2024, all homeowners will pay an additional $1 per month to cover operational costs.
The numbers may seem like a lot to digest. We want to make sure you have a full picture of what you’ll be voting on. If you have any questions please share them with us by emailing firstname.lastname@example.org.
For more information on the Community Center, visit our website.