What protections do the taxpayers have in the event that the SportsPlex does not generate the amount of revenue that is projected?
A reserve fund has been built into the $6.5 million proceeds from the bond sale. This will allow the City to pay the debt service for two full years assuming that revenue does not come in as projected. So there is essentially a two-year buffer for the City. During this period, whatever revenue is generated will be used as additional reserves for future years.
