City Council proposes $6M down payment for pool financing under Measure P

Ridgecrest City Council has taken a significant step towards enhancing community recreational facilities by approving a $6 million down payment for the construction of a new pool, as discussed in their recent meeting on January 15, 2025. This decision is part of a broader financial strategy to utilize Measure P funds effectively while maintaining the city’s fiscal health.

The total estimated cost for the pool project is approximately $17 million. The council's financial plan includes a bond that will be paid off over a nine-and-a-half-year period, with annual payments expected to be around $1.1 million. To ensure the city can meet these obligations, officials have proposed setting aside $500,000 annually from Measure P revenues, which are projected to be conservative due to the winding down of local rebuilding efforts.

City officials emphasized the importance of a conservative approach to budgeting, particularly in light of fluctuating revenues from sales tax collections. The council anticipates that the Measure P funds will provide a stable source of income to support the pool's operational and maintenance costs, which are estimated to rise from $450,000 to nearly $500,000 by the end of the bond term.

In addition to the pool funding, the council discussed the implications of Measure P's expiration in March 2026. They highlighted the necessity of renewing the measure to ensure continued funding for essential services and projects. The council's preference for the $6 million down payment reflects a commitment to fiscal responsibility, keeping the general fund reserves healthy while fulfilling community promises made during the Measure P campaign.

As the city moves forward with this project, officials remain optimistic about the potential benefits for residents, including improved recreational opportunities and enhanced community engagement. The council's proactive financial planning aims to ensure that the pool will be fully funded and operational before the expiration of Measure P, setting the stage for future capital projects that can further benefit the Ridgecrest community.