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Bay City approves Chapter 380 agreement with CDC to support planned aquatic center
Summary
Council approved a Chapter 380 agreement with the Bay City Community Development Corporation to convey 5.5 acres for an aquatic center managed by the YMCA and to slightly increase the first three years of the city's payments from $300,000 to $400,000 per year to enable project financing.
The council approved a Chapter 380 agreement with the Bay City Community Development Corporation (CDC) supporting construction of an aquatic center to be managed by the YMCA.
City Manager Scottie Jones told council the city previously entered an interlocal agreement and will convey 5.5 acres to the CDC for the project site. He said the financing team requested raising the first three years of the city's contribution from $300,000 to $400,000 per year to make the financing work while keeping the overall commitment unchanged. "The first year payment would not hear until fiscal year 28, like around November 2027," Jones said, and staff clarified dates can be adjusted to avoid holidays.
Council discussed dates and asked staff to confirm calendar timing; staff said the change could be set before the end of the calendar year and that dates in the agreement could be updated to avoid conflicts with holidays. The council moved, seconded and approved the agreement as presented.
