(North Mankato, MN) – A public hearing is set for tonight (Tuesday) on the plans to finance upgrades at the Spring Lake Park Swim Facility.
The proposal from the North Mankato City Council calls for a tax abatement of up to $3.3-million dollars over 15-years. That includes the estimated project cost of $2.3-million, along with some contingency for use funds, and expenses for the issuance of bonds and related interest.
Council Member Bob Freyberg says tax abatement is basically an accounting maneuver that will allow general fund money to be used for the improvements and will not mean a higher tax levy.
The proposed facility would include kiddie, flume and body slides, a lily pad walk, water domes, a climbing wall, a zip line and volleyball nets.
Construction on the upgrades could start yet this fall and it’s hoped that the improved Spring Lake Park Swim Facility will be ready by next summer.