Council presses timeline and financing questions as Tranquility Park sports complex moves toward approval

City officials and the developer of the proposed Tranquility Park Sports Complex fielded detailed questions about the project’s financing, schedule and scale during a public hearing and extended council discussion.

City Finance Director Steve Curtis told the council the project is expected to generate roughly $50 million in excess revenue over the next 20 years from operations and associated sources; additional revenue sources the city expects to rely on include a state “turn back,” an anticipated economic enhancement agreement (EEA) shared with the developer and hotel‑tax turnbacks from nearby development. Curtis said those sources together could support about $45 million to $47 million in bonding and that modelled revenues would support issuance of lease‑purchase bonds to pay for the work.

That revenue estimate leaves a gap between the bondable amount and the total project cost. Curtis said the complete scope the council has discussed —…