Winfield extends pool loan

WINFIELD - The city will have a little more time to pay back the loan taken to build the new swimming pool at the Twin Lakes Country Club. They will, however, have to pay a little more for it.

During a special meeting on Wednesday, Feb. 27, the council voted unanimously to amend the loan agreement providing issuance of security of $1.3 million for the construction of the pool. While the council had previously approved the note coming due in July, the city's loan consultant had suggested the city extend the due date of the loan. According to the new deal, the loan will come due on Feb. 1, 2020. The extension of the loan also increased the interest rate half of a percent from 2.45 to 2.95 percent

'For a number of reasons - one being the weather has not been cooperating and another is the loan is to help us get through the grant processes - we want to extend the funding,” Mayor Chris Finnell said.

Finnell stressed the interest would only be paid on money the city borrows. He said because the city has not borrowed the money, $1.3 million maximum, he does not know the total additional interest that would be paid as a result of the amendment. He predicts the numbers will be 'way less” than $1.3 million.

While the harsh winter has hampered progress on the pool, Finnell is hopeful the project will remain on track for a Memorial Day opening.

The pool being built replaces a pool that had been at the country club for about 50 years and was taken out of service due to age. The pool had been open to the public when it was taken out of service. The city had purchased the pool for $1 and begun the project to replace it in the same location.

Finnell said the pool would be named in honor of former public works director and community supporter Rick Rodgers. The new pool will be a different style pool than the previous one. It will be a zero entry walk-in pool. The pool is being funded through a community collection and grants from the Washington County Riverboat Foundation and a CAT grant. Finnell said the money for the pool has already been raised.

'The community has given an awful lot,” he said. 'They have given a lot of support and have been really good to us. They have been hit really hard with all the asking for donations. We need to lay off them a little bit.”