Winona Considering Bonds For Remaining Balance Of Pavilion
August 17, 2022 at 11:57 p.m.
Winona Considering Bonds For Remaining Balance Of Pavilion
By Leah Sander-
At its meeting Tuesday, the Winona Lake Town Council had a first reading of two ordinances related to using the bonds for the pavilion. Located along Park Avenue at the site of the former Billy Sunday Tabernacle, the pavilion is to contain an ice rink and offer space for concerts and other community events to occur.
To construct the pavilion, the town has used a process called build, operate and transfer (BOT) and means a developer can complete a project and later shift ownership to a government entity.
WL Ice LLC is the entity that currently owns the pavilion. The Council also approved at its meeting amending its agreement with WL Ice, adjusting dates on it as the project has taken longer than originally expected.
Due to the BOT agreement, the town locked in what it was going to pay WL Ice for the pavilion earlier, meaning it hasn't been hit by more recent increases in construction costs due to inflation.
The town has received a $1.5 million grant from the K21 Health Foundation and raised more than $1 million via donations to pay its cost for the rink. It still needs to cover $3 million of the expenses.
As the ordinances read Tuesday, the town is seeking a bond amount not to exceed $4,680,000. The higher amount than what is needed is due to the town possibly seeking to use the bonds to pay for other purchases, such as that of new fire engine.
The town had its bond counsel, Randy Rompola from law firm Barnes and Thornburg, and its financial consultant, Jim Higgins from LWG CPAs and Advisors, attend the meeting virtually to explain more about the bond process.
Rompola noted funds to pay back the bonds should come out of "generally available revenues of the town," instead of one specific revenue source. He noted that the town also had other bonds issued in 2020 that it owes on. Those bonds are also being paid for out of general town revenue.
Higgins said "there are no property taxes pledged to this, so you won't see an increase in property taxes" to pay back the bonds. As part of the Council's budget process per year, it also will decide from which of its funds to pull money to pay the debt on the bonds, said Higgins. His company is to grant advice to the town each year regarding from which of Winona Lake's funds the money should come from.
Plans are to have a public hearing regarding the bonds at the council's next meeting on Sept. 20. Leaders emphasized Tuesday that they are still accepting donations for the pavilion.
People may donate by visiting www.millersunsetpavilion.com.
The Council also approved an agreement to purchase a new fire engine for the Winona Lake Fire Department.
Fire Chief Kevin Gelbaugh explained to the Council that the department's 1995 fire engine needs replaced. It has 27,000 miles and "1995 technology," he said.
"It doesn't have rollover protection, it doesn't have seat belts in the back. They're lap belts," said Gelbaugh. "It has no air bag protection."
He said the department was starting to get "nickled and dimed on repairs" for it.
Gelbaugh said a committee began research for a new fire truck earlier this year. The Council approved the agreement for the truck the committee settled on, which is a 2022 Ferrara Spartan custom cab. It meets desired safety specifications among other things, said Gelbaugh.
Payment for the truck may be made out of the aforementioned bonds. With the agreement, the Council locks in a price of $531,272.
Town Manager Craig Allebach mentioned it could be more than a year before the truck comes in. The town doesn't have to pay for it until it does come in.
The Council also heard a summary on property tax rates and an overview of the preliminary 2023 budget from Clerk-Treasurer Laurie Renier.
The town has a 20.68% increase in assessed valuation from before, meaning that the tax rate is estimated to drop for residents from $0.6553 per $100 of assessed valuation to $0.5920 per $100 of assessed valuation.
Net assessed valuation has gone from $208,515,398 for 2022 to $251,635,370 for 2023.
For the budget for 2023, the Council is considering an amount of $5,824,986, an increase of $365,264 or 6.69% from the 2022 budget of $5,459,722.
That breaks down to: $65,000 in casino/riverboat; $100,000 in rainy day; $1,510,186 in general; $89,500 in local road and street; $767,150 in motor vehicle highway; $5,000 in continuing education; $213,730 in park and recreation; $50,000 in cumulative capital improvement cigarette tax; $191,000 in cumulative capital development; $800,000 in economic development income tax; $300,000 in TIF; $1,433,420 in wastewater; and $300,000 in stormwater.
A public hearing on the budget will be during the Council's Sept. 20 meeting, with adoption planned for its meeting on Oct. 18.
In other business, the Council:
• Heard that Winona Lake Community Church, 902 College Ave., is have a Food Truck Night from 5-7 p.m. Saturday. The community is welcome to come.
• Heard that The Village at Winona's Canal Days is set for 10 a.m. to 6 p.m. Aug. 27 in town.
The event includes the cardboard boat race, which people may enter up to the day of. People may register for the races and learn more about the event by visiting www.villageatwinona.com/events/canal-days.
Funds raised from the event will benefit Fellowship Missions of Warsaw.
• Heard that a free movie "Cars," will be shown at Winona Lake Limitless Park at 7:30 p.m. Aug. 27.
At its meeting Tuesday, the Winona Lake Town Council had a first reading of two ordinances related to using the bonds for the pavilion. Located along Park Avenue at the site of the former Billy Sunday Tabernacle, the pavilion is to contain an ice rink and offer space for concerts and other community events to occur.
To construct the pavilion, the town has used a process called build, operate and transfer (BOT) and means a developer can complete a project and later shift ownership to a government entity.
WL Ice LLC is the entity that currently owns the pavilion. The Council also approved at its meeting amending its agreement with WL Ice, adjusting dates on it as the project has taken longer than originally expected.
Due to the BOT agreement, the town locked in what it was going to pay WL Ice for the pavilion earlier, meaning it hasn't been hit by more recent increases in construction costs due to inflation.
The town has received a $1.5 million grant from the K21 Health Foundation and raised more than $1 million via donations to pay its cost for the rink. It still needs to cover $3 million of the expenses.
As the ordinances read Tuesday, the town is seeking a bond amount not to exceed $4,680,000. The higher amount than what is needed is due to the town possibly seeking to use the bonds to pay for other purchases, such as that of new fire engine.
The town had its bond counsel, Randy Rompola from law firm Barnes and Thornburg, and its financial consultant, Jim Higgins from LWG CPAs and Advisors, attend the meeting virtually to explain more about the bond process.
Rompola noted funds to pay back the bonds should come out of "generally available revenues of the town," instead of one specific revenue source. He noted that the town also had other bonds issued in 2020 that it owes on. Those bonds are also being paid for out of general town revenue.
Higgins said "there are no property taxes pledged to this, so you won't see an increase in property taxes" to pay back the bonds. As part of the Council's budget process per year, it also will decide from which of its funds to pull money to pay the debt on the bonds, said Higgins. His company is to grant advice to the town each year regarding from which of Winona Lake's funds the money should come from.
Plans are to have a public hearing regarding the bonds at the council's next meeting on Sept. 20. Leaders emphasized Tuesday that they are still accepting donations for the pavilion.
People may donate by visiting www.millersunsetpavilion.com.
The Council also approved an agreement to purchase a new fire engine for the Winona Lake Fire Department.
Fire Chief Kevin Gelbaugh explained to the Council that the department's 1995 fire engine needs replaced. It has 27,000 miles and "1995 technology," he said.
"It doesn't have rollover protection, it doesn't have seat belts in the back. They're lap belts," said Gelbaugh. "It has no air bag protection."
He said the department was starting to get "nickled and dimed on repairs" for it.
Gelbaugh said a committee began research for a new fire truck earlier this year. The Council approved the agreement for the truck the committee settled on, which is a 2022 Ferrara Spartan custom cab. It meets desired safety specifications among other things, said Gelbaugh.
Payment for the truck may be made out of the aforementioned bonds. With the agreement, the Council locks in a price of $531,272.
Town Manager Craig Allebach mentioned it could be more than a year before the truck comes in. The town doesn't have to pay for it until it does come in.
The Council also heard a summary on property tax rates and an overview of the preliminary 2023 budget from Clerk-Treasurer Laurie Renier.
The town has a 20.68% increase in assessed valuation from before, meaning that the tax rate is estimated to drop for residents from $0.6553 per $100 of assessed valuation to $0.5920 per $100 of assessed valuation.
Net assessed valuation has gone from $208,515,398 for 2022 to $251,635,370 for 2023.
For the budget for 2023, the Council is considering an amount of $5,824,986, an increase of $365,264 or 6.69% from the 2022 budget of $5,459,722.
That breaks down to: $65,000 in casino/riverboat; $100,000 in rainy day; $1,510,186 in general; $89,500 in local road and street; $767,150 in motor vehicle highway; $5,000 in continuing education; $213,730 in park and recreation; $50,000 in cumulative capital improvement cigarette tax; $191,000 in cumulative capital development; $800,000 in economic development income tax; $300,000 in TIF; $1,433,420 in wastewater; and $300,000 in stormwater.
A public hearing on the budget will be during the Council's Sept. 20 meeting, with adoption planned for its meeting on Oct. 18.
In other business, the Council:
• Heard that Winona Lake Community Church, 902 College Ave., is have a Food Truck Night from 5-7 p.m. Saturday. The community is welcome to come.
• Heard that The Village at Winona's Canal Days is set for 10 a.m. to 6 p.m. Aug. 27 in town.
The event includes the cardboard boat race, which people may enter up to the day of. People may register for the races and learn more about the event by visiting www.villageatwinona.com/events/canal-days.
Funds raised from the event will benefit Fellowship Missions of Warsaw.
• Heard that a free movie "Cars," will be shown at Winona Lake Limitless Park at 7:30 p.m. Aug. 27.
Have a news tip? Email [email protected] or Call/Text 360-922-3092