Hoover Council Votes To Borrow $80 Million For Sports Complex

22 June 2016

The original price of the new Hoover Sports Complex was 70 million dollars, and now city leaders say that it will cost approximately $76 million, they think. They're planning to borrow $80 million to give themselves a financial cushion.

"It's not being all bid at one time. So we don't necessarily know for sure where we are until we open those bids.  So we don't necessarily know where we are within the budget," said Robert Yeager, Hoover Finance Director.

Of the five councilors present Monday, three voted in favor of borrowing the money and two were against.  

One of those in opposition was Councilman John Lyda.  He raised concerns about why the city is going over the project's original budget.

"Governments at all levels are known for overspending on anything from day to day projects to operating costs.  And the city of Hoover has never done that.  And I don't think we should start today," said Lyda.

The city broke ground on the complex last week.  

For the record, Lyda says he is still very much in favor of the overall project but has concerns about borrowing money the city may or may not use.

"And it could come back that they need even more.  So why not let's stick to our original budget and if change orders do come about, then we can take a look at those individually," he said.

"Could be more but hopefully will be less.  And anything that is less, gives us some flexibility for the future," said Yeager.

 

Source : wbrc.com