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Janesville approves authorization to borrow up to $7.24 million to finish Woodman Sports and Convention Center
Summary
The Janesville Common Council authorized up to $7,240,000 in taxable general obligation promissory notes to finish construction and equip the Woodman Sports and Convention Center; staff said the amount is a ceiling and may be reduced at sale.
The Janesville Common Council on July 26 authorized the city to issue up to $7,240,000 in taxable general obligation promissory notes to finance remaining construction and equipment costs for the Woodman Sports and Convention Center (WSCC).
Finance Director Dave Godek told council the WSCC project’s total budget is $46,756,600 and is funded from a mix of city borrowing, state and federal appropriations, private fundraising and other contributions. The council approved a borrowing plan that splits city borrowing across years to avoid unnecessary borrowing; the $7.24 million is the maximum remaining taxable amount the city…
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