Dec. 14, 2010
Huntington Ice Skating Receives Supportive Public Input
Bond Counsel Reveals City Doesn’t Own Jean Dean Building … Yet
By Tony Rutherford
Huntingtonnews.net Reporter
Huntington, WV (HNN) – Huntington City Council acted upon a low interest deal on bond sales that will upgrade the Big Sandy Super Store Arena, and refinance (at lower interest rates) existing debt on the Jean Dean Public Safety Building and BSSA. The public sale of the investment grade bonds will likely occur in the next two days, stated Fred Williams, bond counsel.
Earning a BBB+ investment rating, the indebtedness totals about $5.1 million dollars; however, public comment generally centered on one item of the upgrade --- ice. Earlier Huntington’s Council had broadened a $300,000 ice hockey upgrade as an “infrastructure” upgrade, which could include ice skating or ice hockey, but does not commit the city to either option.
Public comment honed more on the skating option as well as the ability to books shows such as “Disney on Ice” or “Ice Capades.”
Roger Smith told council “if we have an ice skating facility, it makes another destination downtown. You would be surprised at the (community) commitment to public skating.”
Jim McClelland ,retired director of the Huntington Parks and Recreation Commission, told council that he’s interested in public recreation not offered in Huntington and the surrounding area. Previously, a speaker said that ice skaters have to travel to Charleston, WV or Athens, Ohio.
McClelland said that if economically viable “ice skating brings in more than hockey.” Noting that he once managed some of the largest outdoor ice skating facilities in the United States, McClelland noted that “ice hockey is affordable, family friendly recreation.”
Council Finance Director Steve Williams acknowledged the encouraging public comments regarding ice skating.
“Now, let’s see how the [possible $300,000 ice expenditure] creates a value proposition for the city and adds the civic arena as a destination,” Williams said.
Prior to the unanimous acceptance of the bond sale ordinance, Williams explained on record that these are not “general obligation” bonds which would require a referendum for issuance. Still, the city ultimately is responsible for payment of the annual debt service, which likely would come from funds already allocated to BCCA.
During a title search, Fred Williams discovered the Huntington Development Authority “did not deed the Jean Dean Building to the city.” As a consequence, the bond sale ordinance already approved by the Huntington Municipal Development Authority will be amended to state that the City of Huntington has a “lease/purchase” agreement for the Jean Dean Municipal Building.
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Huntington Ice Skating Receives Supportive Public Input
Bond Counsel Reveals City Doesn’t Own Jean Dean Building … Yet
By Tony Rutherford
Huntingtonnews.net Reporter
Huntington, WV (HNN) – Huntington City Council acted upon a low interest deal on bond sales that will upgrade the Big Sandy Super Store Arena, and refinance (at lower interest rates) existing debt on the Jean Dean Public Safety Building and BSSA. The public sale of the investment grade bonds will likely occur in the next two days, stated Fred Williams, bond counsel.
Earning a BBB+ investment rating, the indebtedness totals about $5.1 million dollars; however, public comment generally centered on one item of the upgrade --- ice. Earlier Huntington’s Council had broadened a $300,000 ice hockey upgrade as an “infrastructure” upgrade, which could include ice skating or ice hockey, but does not commit the city to either option.
Public comment honed more on the skating option as well as the ability to books shows such as “Disney on Ice” or “Ice Capades.”
Roger Smith told council “if we have an ice skating facility, it makes another destination downtown. You would be surprised at the (community) commitment to public skating.”
Jim McClelland ,retired director of the Huntington Parks and Recreation Commission, told council that he’s interested in public recreation not offered in Huntington and the surrounding area. Previously, a speaker said that ice skaters have to travel to Charleston, WV or Athens, Ohio.
McClelland said that if economically viable “ice skating brings in more than hockey.” Noting that he once managed some of the largest outdoor ice skating facilities in the United States, McClelland noted that “ice hockey is affordable, family friendly recreation.”
Council Finance Director Steve Williams acknowledged the encouraging public comments regarding ice skating.
“Now, let’s see how the [possible $300,000 ice expenditure] creates a value proposition for the city and adds the civic arena as a destination,” Williams said.
Prior to the unanimous acceptance of the bond sale ordinance, Williams explained on record that these are not “general obligation” bonds which would require a referendum for issuance. Still, the city ultimately is responsible for payment of the annual debt service, which likely would come from funds already allocated to BCCA.
During a title search, Fred Williams discovered the Huntington Development Authority “did not deed the Jean Dean Building to the city.” As a consequence, the bond sale ordinance already approved by the Huntington Municipal Development Authority will be amended to state that the City of Huntington has a “lease/purchase” agreement for the Jean Dean Municipal Building.
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