KALAMAZOO, MI (WKZO AM/FM) – It’s not the best time in history to seek bonding for new government projects, but Discover Kalamazoo reports they have been successful at securing funding for their new youth athletic facility.
Jane Ghosh told Kalamazoo County commissioners this week that they put the bonds on the market last week and they all sold.
“We were able to get just slightly lower than what we expected from an interest rate so it was it was as good, if not slightly better than expected which will benefit us over the 30 year lifetime of the bonds,” Ghosh said.
They went through Kalamazoo County to secure the bonding, and the county’s good bond rating may have helped.
They were seeking $45-million for the new youth sports complex that will be built along U.S. 131 on the northwestern edge of the city of Kalamazoo near Oshtemo Township.
The bonds will be repaid by fees collected on hotel room rentals in Kalamazoo County over the next three decades.
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