A rendering of the interior of the proposed Soldotna Regional Sports Complex field house. The approximately 42,000-square-foot metal building would be connected to the current sports complex and offer a variety of recreation options for the community. The building could hold three high school basketball courts, eight large wrestling mats or nine pickleball courts. (City of Soldotna)

A rendering of the interior of the proposed Soldotna Regional Sports Complex field house. The approximately 42,000-square-foot metal building would be connected to the current sports complex and offer a variety of recreation options for the community. The building could hold three high school basketball courts, eight large wrestling mats or nine pickleball courts. (City of Soldotna)

Soldotna looks to bond for field house project

Designs for a field house at the Soldotna Regional Sports Complex are nearly complete. Now, the city of Soldotna is looking at how to fund the project.

At Wednesday night’s council meeting, the Soldotna City Council will introduce legislation to ask the voters if the city should borrow $10 million in the form of a bond to build the field house and increase the sales tax by a half percent to cover the debt service on the 10-year bond.

“It’s two parts that we see working together, if the public gives us the go-ahead,” said City Manager Stephanie Queen. “We borrow money and, simultaneously, add a sales tax to cover the cost of the debt over a 10-year period.”

The city does have the money to fund the project reserved in the fund balance, Queen said, but the administration found it would be more financially prudent to pay for the project with a bond.

“We have cash and we typically pay as we go for projects,” Queen said. “We have a significant fund balance to put a good portion towards the project, but we’re recommending debt because our cash is doing really well in our investments and interest rates are low. We can leave the extra funds balance in our investment, earning rates much higher than it costs to borrow funds.”

If approved by the public, the city would take on a 10-year bond with an interest rate between 3 and 3.5 percent. It would be paid off in 10 years with 10 annual payments.

The half-percent sales tax increase would cover that debt.

“Then the extra half percent would go away after 10 years, because it’s in the code,” Queen said.

The approximately 42,000-square-foot metal building would be connected to the current sports complex and offer a variety of recreation options for the community. The building could hold three high school basketball courts, eight large wrestling mats or nine pickleball courts, Queen said.

“It’s an appropriate design for the community,” she said. “It’s a really flexible space that will allow different sports to be played at once.”

After the ordinance is introduced at Wednesday’s meeting, the council will set a public hearing on Dec. 12. From there, the bond question could be seen on a special ballot in March. If voters approve the bond in March, the half-percent increase would be seen starting July 1, 2019. The council could change the time line as needed, however.

Reach Kat Sorensen at ksorensen@peninsulaclarion.com.


• By Kat Sorensen, Peninsula Clarion


A rendering of the proposed Soldotna Regional Sports Complex field house. The approximately 42,000-square-foot metal building would be connected to the current sports complex and offer a variety of recreation options for the community. The building could hold three high school basketball courts, eight large wrestling mats or nine pickleball courts. (City of Soldotna)

A rendering of the proposed Soldotna Regional Sports Complex field house. The approximately 42,000-square-foot metal building would be connected to the current sports complex and offer a variety of recreation options for the community. The building could hold three high school basketball courts, eight large wrestling mats or nine pickleball courts. (City of Soldotna)

More in News

This 2020 electron microscope made available by the U.S. Centers for Disease Control and Prevention image shows the spherical coronavirus particles from the first U.S. case of COVID-19. (C.S. Goldsmith, A. Tamin/CDC via AP)
7 new COVID-19 cases, 4 on peninsula

Cases were reported in Anchorage, Kenai, Homer and in unspecified areas of the peninsula.

Registered Nurse Cathy Davis (left) and Chief Nursing Officer Dawn Johnson (right) work at a table to get COVID-19 tests ready for the public Friday, May 29, 2020 at the Boat House Pavilion on the Homer Spit in Homer, Alaska. (Photo by Megan Pacer/Homer News)
Expanding testing available on southern peninsula

South Peninsula Hospital announced last week it would begin offering free, rapid COVID-19 testing.

The entrance to the Kenai Peninsula Borough building in Soldotna is photographed on Monday, June 1. (Photo by Brian Mazurek/Peninsula Clarion)
Borough begins reopening

The reopenings are part of phase one of the borough’s approach to reopening responsibly.

The women’s field takes to the course Tuesday, July 4, 2017, at the Mount Marathon Race in Seward, Alaska. Eventual winner Allie Ostrander is to the right of Christy Marvin (1). (Photo by Jeff Helminiak/Peninsula Clarion)
Mount Marathon Race canceled for 2020

The 93rd running of the race up and down the 3,022-foot mountain is rescheduled for July 4, 2021.

A graph by the Alaska Department of Health and Social Services created on its Coronavirus Datahub on Sunday, May 31, 2020, shows the number of positive COVID-19 cases acquired by day since the first cases were recorded in March. The increase of 27 cases on May 31 marks the largest single jump in one day in Alaska. (Graphic courtesy of Alaska Department of Health and Social Services)
Alaska sees biggest jump in COVID-19 cases yet

Kenai, Homer, Soldotna, Kenai Peninsula Borough and Anchor Point all reported cases.

Signs along Poopdeck Street on Friday, May 29, 2020, in Homer, Alaska, offer inspiration during the COVID-19 pandemic. Put up by the South Kenai Peninsula Resiliency Coalition, the signs read “Daily life loooks very different now. Routine and structure create a sense of safety. How can your daily rhythm support you?” (Photo by Michael Armstrong/Homer News)
2 new peninsula COVID-19 cases Saturday

DHSS also announced two other Alaska cases, one for Anchorage and one for Wasilla.

Kenai Peninsula Boys & Girls Clubs CEO Rachel Chaffee, right loads up a pallet with goods that Carlile driver Robert Ivy will take back to Carlile’s Kenai headquarters, where it will then be transported to Anchorage and ultimately Seward, at Kenai Central High School in Kenai, Alaska on May 28, 2020. (Photo by Brian Mazurek/Peninsula Clarion)
Boys Girls Clubs expanding meal service

The nonprofit is serving about 650 meals a day across the peninsula.

Alaska VA to break ground on new clinic

The clinic will be located at 241 East Rockwell Ave. in Soldotna.

Specimens to be tested for COVID-19 are seen in Surrey, B.C., on Thursday, March 26 . (THE CANADIAN PRESS/Darryl Dyck
Borough looks at purchasing new COVID-19 testing machine

The platform would be purchased for no more than $400,000, with expected delivery in four to six months.

Most Read