Laserfiche WebLink
A1 other funding avenues have been thoroughly pursued and exhausted, inctuding federat <br />infrastructure dottars over the past four years. The $3 mittion Lodging Tax Advisory <br />Committee (LTAC) grant-through the Large Capitat Projects initiative-represents the <br />finat, criticat component to ctose the funding gap' <br />lmportantty, the initial, DOC grant awarded in 2021 is contingent upon futl, project funding. lf <br />that threshotd isn't met in time, those state funds may be reabsorbed into the state budget. <br />Securing the LTAC funding woutd untock this $1 .5 mittion grant and attow construction to <br />proceed without further detay or risk of escatating costs' <br />Fina11y, securing the DOC and LTAC grant funds witl, significantl'y reduce the required debt <br />service to gg mittion. This approach not onty tightens the financiat toad across a[[ partners <br />and taxpayers, but atso minimizes long-term interest costs-making this a fiscatl'y <br />responsibte and forward-thinking investment in the future of the Rodeo Arena and the <br />broader communitY it serves. <br />Funding Sources <br />r State Grants <br />r LTAC Grant <br />r City of Ettensburg r Ettensburg Rodeo <br />I Kittitas CountY <br />Caoital Cost 2021 2025-2026 Total <br />$94,207 $ 1.004,973 $ 1.053,516 <br />and Costs $12.369,920 $12,369,920 <br />TOTAL $94,2A7 $13.374.893 s13,423,436 <br />2021 2025-2026 Total <br />State Grqnls fi94.207 s2,374,893 $2.469,100 <br />Local Psnership-CitY af Eilensbwg $2.s00,000 $2,s00,000 <br />Local P onership - Ellensbwg Rodeo $2.500,000 $2,500,000 <br />Grant $3.000,000 $3,000,000 <br />LocaI $3,000,000 $3,000,000 <br />TOTAL s94.207 $13.374,893 $t3,423,436