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Council approves $500,000 city grant and 0% loan support for Rapid City Soccer Complex; funding moved to Vision Fund
Summary
The Legal & Finance Committee approved shifting the city's $500,000 contribution for the Rapid City Soccer Complex from CIP contingency to unallocated Vision Fund dollars and endorsed a 0% city loan of $500,000, supporting a $2 million project to add turf and lights.
The Rapid City Legal & Finance Committee on Oct. 1 approved a funding package and a change in funding source for upgrades to the Rapid City Soccer Complex. The committee approved using $500,000 in unallocated Vision Fund dollars as a grant and authorizing a $500,000 0% city loan repayable over 10 years to help finance a proposed $2 million project to install a turf field and add lights to four fields.
Caleb Arsenault, CEO of Lib Hospitality and a project proponent, told the committee the full project cost is approximately…
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