Funding for the Pella Rec Center, Community Center and University Street Extension Projects
These projects will be funded using a combination of cash-on-hand, debt financing, private donations and other sources. The proposed $57 million financial plan includes approximately $29 million from the City of Pella and nearly $28 million from private donations. Listed below is an overview of the proposed funding plan.
| FUNDING SOURCES | |
| City of Pella Local Option Bond | $17,000,000 |
| City of Pella Infrastructure Bond | $6,600,000 |
| City of Pella Cash Contributions | $5,500,000 |
| Private Donations/Gov. Grants* | $16,533,000 |
| Total Funding Sources | $45,653,000 |
| PROJECTS | |
| Recreation Center | $41,137,000 |
| Infrastructure | $7,600,000 |
| Community Center Renovation | $8,316,000 |
| Total Projects | $57,053,000 |
| Funds Needed |
($11,400,000) |
*Fundraising efforts are underway by the City of Pella to fund the remaining dollars. If you wish to donate to the Pella Rec Center click here.
Will the Pella Rec Center Raise My Taxes?
In planning for the Rec Center and Community Center, the City Council established financial conditions for each project, which included the city’s property tax rate. Specifically, before these projects are approved by the City Council, they must be able to demonstrate that they can be constructed and operated without increasing the city’s property tax rate.
