The models under which most AA franchises operate across the country include a significant investment of public dollars in the construction of the needed facilities. Exactly how the financing of a facility here in Springdale could be accomplished is under study.
The plan is to purchase the land and use the passive water as part of a recreation area.
Last year, I proposed to use the additional resources to fund an economic stimulus project, which included the reconstruction of 56th Street south to Watkins Avenue.
I expect that we will be able to sell this — whatever the bond issue is — at a very good interest rate primarily because our sales tax is growing so rapidly.
We must keep reminding ourselves that this is about an eight-year project that didn't actually get under way until early 2004.
I don't think that we're going to have any issues with this. The city has no other kind of debt other than this. It's all tied to that 1 cent sales tax.
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