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Rockbridge supervisors schedule Sept. 14 public hearing on financing for proposed recreation center
Summary
After extended public comment and a multi-hour presentation, the board voted 3–2 to schedule a Sept. 14 public hearing on issuing up to $18 million in bonds for a combined Rockbridge County schools and community recreation center. Davenport & Company presented updated costs and a reserve-based scenario it said would avoid an immediate tax impact.
The Rockbridge County Board of Supervisors voted 3–2 on Aug. 10 to schedule a public hearing for Sept. 14 to consider financing options for a proposed combined school and community recreation center, including the option of issuing bonds up to $18 million.
Tyler Smith of Davenport & Company told the board the "approximate cost is now $16,800,000 total," including the recreation center and tennis courts, and presented a conservative financing scenario that assumes a $4 million debt-service reserve and a 20-year, level-payment structure. Smith said that scenario would cover near-term peaks in debt service so "the county would be able to undertake this borrowing for these new projects without any equivalent tax impact to the citizens," though he noted some years would draw on the reserve.
Supporters at the meeting argued the project meets long-standing needs at Rockbridge County High School and could create net revenue from tournaments and rentals; critics pressed the board for clearer ownership and cost accountability and warned against taking on more debt. The motion to set the Sept. 14 public hearing passed with three votes in favor and two opposed (Ayers and Hart).
Next steps: staff and Davenport will prepare materials and alternative scenarios for the public hearing, and the board will take public comment and further consider whether to adopt the proposed bond resolution.
