City Council member discusses purchase of local SportsPlex facility

City Council member Isabel Piedmont-Smith had a monthly constituent meeting Saturday at Rachael’s Cafe at 300 E. Third St.

Piedmont-Smith sought feedback on several issues, including the proposal for the city to purchase the Bloomington SportsPlex facility. The proposed ordinance will issue more than $6.5 million in revenue bonds to the city so it can purchase the SportsPlex. Those bonds must then be paid back with interest with the income generated by the facility.

The actual purchase price is $5.5 million with $950,000 included for repairs, surveying and financial analysis. Also included is $477,000 for capitalized interest – extra funds in case the facility has trouble paying back the bonds in the first two and a half years.

The City Council will vote on the purchase of the Bloomington SportsPlex at 7:30 p.m. Wednesday.