MARYLAND HEIGHTS (KMOX) – The city of Maryland Heights goes “all in” when it comes to funding their portion of a proposed indoor ice complex.
The city council approved a series of measures linked to the project, including a transfer of $5 Million from their reserve fund into the Capital Improvements Fund.
City administrator Jim Krischke explained what makes up their rest of their roughly 6-and-a-half Million dollar commitment.
“Where the city will contribute starts at $100,000 a year, growth by 1 percent every year for the next 30 years, and that’s just an annual payment to help support the programming,” he says.
Mayor Mike Moeller said their decision to contribute to the ice arena plan is consistent with Maryland Heights 20 year history of financially supporting large-scale regional projects, like the Aquaport and Sportport.
Guarantees are built in so the money isn’t squandered if the ice complex plan falls through.