If you have driven by the high school or middle school
lately, you’ve probably seen that our vision for the stadiums is becoming a
reality. Soon, Marysville students will be able to enjoy and compete in these
new facilities, and thanks to our supportive community and unique revenue
opportunities, it will be completed without using any of your tax dollars.
As you can imagine, the progress that has been made has
definitely created a buzz in the community and I wanted to answer some of the
most frequent questions we receive and address some of the occasional rumors we
Here are some important facts I’d like to share regarding
the financing of these projects.
Again, one of the most important facts about this project is
that not only will it be completed without raising your taxes, it
will be completed without using any of your tax dollars. This project
will be funded entirely by TIF dollars (taxes paid by businesses in areas such
as Coleman’s Crossing and City Gate) and private donations by local businesses
and residents like you. Due to the fact that the full amount required for the
project is required to be available at the time the project began, a low
interest loan was obtained that also has an early payoff option to further
reduce interest costs.
The donations have come in the form of selling naming rights
to the stadium, corporate and individual donations, and selling engraved bricks
that will be featured in the new Monarch Pride Walk leading into the stadium.
Donations and pledges have exceeded $1.3 million and we are very appreciative
to those that have donated. We cannot thank you enough for this support!
The remaining money needed will come from TIF revenue as
mentioned above. Due to business growth in these TIF areas, this revenue has
increased by approximately $1 million annually compared to when we began
considering this project. This growth has allowed the project to move forward
without having to consider a bond issue. This is great news for our community
As we stated when this project began, the high school
stadium, which has been in use for nearly half a century, was in need of major
repairs while the middle school did not have its own stadium. The district has
carefully planned for these expenditures by setting aside TIF funds in our
Permanent Improvement Forecast. Now, thanks to responsible fiscal planning and
the support of our generous community, we can provide safe, updated and modern
athletic facilities for both our students and community to enjoy.
We are very excited for our community to experience the stadiums this Fall and believe this investment will benefit generations of students as well as the community as a whole. If you have any questions, please contact me at email@example.com.