Minutes - 19930216 - Laserfiche WebLink

Browse Search

Metadata

Thumbnails

Annotations

229 of $400,000 per year for ten years would be wholly earmarked for the Center's debt service. The activity center would be operated by the non-profit entit " and the County would not .be involved with the operation. At- the end of t1 ten year period, the County would not have any further financial obligation' but would continue to enjoy scheduling priority for school programs and recreation and parks programs. Economic Development Director Ted Abernathy outlined the specifics of the plan. The facility will be 90, 000 sq.ft. and parking will be provided for 375 vehicles. The Triangle Youth Hockey Association (TYHA) will borrow 6.7 million over a 10 year period at about 9% interest. The County will contribute $400,000 a year for 10 years. The generated income from the facility over the 10 years will range from 1. 1 to 1.2 million a year. The expenses will run 1.47 million a year with 70% being the repayment of the loan. The center should break even for ten years. Still to be negotiated is what happens at the end of the first ten years. He suggests that the first years revenues be placed in an account that would be used as an escrow for operating in case something went wrong and in year twelve, the Hockey Association and the County would split the profits until the County received their investment of 4 million. If TYHA could not meet their obligations, the County would need to look at it when it happens to decide what to do. MaryAnne Moore showed slides which illustrated what this pool would look like and the types of programs that. it would accommodate. It will be located in the Meadowlands development. Ms. Moore noted that those people who will not be using this pool will be investing in a family facility that will provide constructive and wholesome activities for young people in this community. Within. 12 miles of the Meadowlands 94.9% of Orange County citizens.. live. Within 15 miles of the proposed site 99.9% of the population 9 located. This facility will provide lifesaving water skills for children. There will be some increased sales tax revenues from this because of the tournaments the Hockey Association will be hosting. It will provide several jobs for young people in the area and in year eleven or twelve the County will begin to get its money back. This pool will be open for ,activity sixteen hours a day and it will be low cost for the family. The schools will benefit by being allotted 32 hours during the week and also the schools' summer camps can take advantage of the pool. Every Saturday and Sunday for four hours there will be free -swim-. There will be swimming lesson and program fee- waivers set up and program scholarships and sponsorships by local businesses. The pool will be open from 6:00 a.m. to 10:00 p.m. Monday through Friday with 10 hours each Saturday and Sunday. In answer to a question from Commissioner Gordon about how many children will be using the pool, Ms. Moore stated that the Chapel Hill Community Center pool has 500 people swimming a day and Hargrove which is opened only during the summer has 700 people swimming a day. She feels this pool will support 600 people a day. In answer to a question from Commissioner Willhoit, Dan Kidd stated that Hockey starts at age 3 and goes up to age 18. They will also support the college teams in the area. At the present time they have 450 families involved in hockey and figure skating. Commissioner Halkiotis made reference to a fight involving 300 to 400 young people in the parking lot and inside the building at Daniel Boone which spread to McDonalds and Hardees and the troops were called out. Ther is nothing to do in the northern end of the County except fight, beat peop! up and do drugs. He noted that it cost $400,000 to send 16 people off to central prison or eight people to Butner. He expressed his support for this