With recent approval of a new grant recently for the St. Edward Community Center project, the city council discussed Monday night how the finances would be used for this project.
Councilman Dean Hamling, who also serves on the planning committee for the community center, laid out the details.
The recent Community Development Block Grant (CDBG) of $435,000 can only be used on the community center and not for other public works projects, Hamling noted.
The total includes $400,000 for actual construction costs, $25,000 for general administration by the Northeast Nebraska Economic Development District (NENEDD), and $10,000 for construction management.
Other funding sources are a $562,000 Nebraska Civic and Community Center Financing Fund (NCCCFF) grant; the bonds to be repaid from the city’s one-half-cent sales tax, and the public fund drive that currently stands at $220,000.
The project now has about $1,182,000 in available funds, not counting the sales tax revenue. If an estimate of $110,000 in sales tax revenue is used, the total available increases to $1,292,000.
Exact amounts to be raised from the community fund drive and city sales tax are not known at this point. However, the project is moving forward.
Next steps are to continue fund-raising and applying for grants, and to form a committee to seek engineering proposals for the project, Hamling said. He added that the committee recently learned that USDA has a possible $50,000 grant for this type of project.
The council approved a motion to have Mayor Marv Haas sign the acceptance letter for the CDBG grant and an agreement with NENEDD for grant administration.
Read the full story in the Dec. 4 St. Edward Advance print and e editions.