Bolivar City Council Approves 4 Million in Funding for Phase One of Sports Complex
During the monthly City Council Meeting on Monday, May 19, 2025, the Bolivar City Council officially approved $4,000,000 in funding for phase one of the Bolivar Multi-use Sportsplex. Phase one includes purchasing the armory building for $975,000 and remodeling the building at an expected cost of $2,266,900. Phase one does not include construction of the proposed gym.
“This marks a significant investment in the future of our city—one that will provide long-term economic, community, and recreational benefits for residents of all ages. Phase one of the project will include the purchase of the former National Guard armory building and land, along with renovations to support the YMCA programming.” shared the City of Bolivar in a released statement.
At the council meeting, John Werner with Cumberland Securities presented a financial report for the Multi-use Sportsplex. He reported the City of Bolivar currently has a little over $2,000,000 (2 million) in debt, which is payable through 2051. He also said the total cost of the sportsplex project is expected to be $21,000,000 (21 million) which would be financed over a 40-year USDA loan at 2.45 percent.
“That’s a little bit more than I would suggest the city is able to handle at this time given the resources you have in place, but if you wisely break it up in phases you can move the needle forward with something that you can build upon.” said Mr. Werner.
The staff at Hatchie Press put the numbers presented in a loan calculator and figured, when the Multi-use Sportsplex is completed, the note on the USDA loan would be around $70,000 a month on a $21 million dollar loan at 2.45 percent over 40 years. Until the project is completed, it was said the City would take out an interest only loan to fund each phase.
Mr. Werner later seemed to suggest the council consider a tax increase, “After looking at your audits for the last five years, it might behoove this body to consider some revenue enhancements.”
Only one council member, Larry McKinnie, voted against approving the four million dollars in funding for phase one of the project. Council members voting in favor of phase one funding included Mike Brown, Melvin Golden, Todd Lowe, Caroline Miller, Suzanne Rhea, Chris Williams, and Tommy Woods.
Mayor McTizic added in a released statement, “Partnering with the YMCA to bring early childhood development programs to our community is a tremendous step forward for our children and families. I’m excited about the opportunities this creates to nurture young minds and build a stronger foundation for future success. I would like to extend my sincere thanks to the seven council members who supported this important initiative. Their commitment and leadership are helping shape a stronger, healthier Bolivar for generations to come. Thank you for believing in this vision and helping turn it into reality.”
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