The prospect of a new sports complex and commercial redevelopment project in Vadnais Heights moved forward Monday night as city leaders voted preliminary approval for $26.5 million in revenue bonds.
After a joint public hearing, the city's Economic Development Authority (EDA) voted 6-1 in favor, with City Council Member Gerald Auge opposing. A second vote, by the five-member City Council, was 4-1 in favor, again with Auge opposing.
Auge said last week that he was uneasy about sustaining a new sportsplex project at a time when similar projects in the metro area are struggling.
The EDA and City Council will vote on final approval March 16.
Community Facility Partners will own the sports complex and pay the debt on the bonds and the complex's operating expenses. As "master leaseholder," the city will pay any annual short-term bond shortfall.
The sportsplex is scheduled to open Nov. 1.