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Financial advisers tell Rockbridge supervisors county can absorb recreation center debt without immediate tax spike
Summary
Davenport presented a financing analysis for a proposed $14.5 million recreation center and replacement tennis courts, showing scenarios that would keep key debt ratios within county policy and dilute 2027 tax impact using $4 million in available cash.
Davenport & Company financial adviser David Rose told the Rockbridge County Board of Supervisors on Sept. 22 that the county is on “solid financial footing” and that the county could add debt for a proposed recreation center near Rockbridge County High School without breaching its debt policies.
Rose said the consultants modeled a project cost of about $14.5 million — $13 million for the recreation center and $1.5 million as a placeholder for replacement tennis courts — and ran two borrowing scenarios. One used $4 million of county cash to reduce the principal to be borrowed; the other used the $4 million as a debt-service reserve to smooth payments. Under both 20-year, level-debt scenarios at…
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