Richmond Hill city officials had a workshop May 29 to discuss financing of the upcoming Richmond Hill Conference Center.
It was announced at the meeting that the project will cost around $5.5 million and that the combination of SPLOST and bond money will cover the costs.
"It was a very positive meeting because it shows that we have a surplus of funds to cover the Conference Center without dipping into the general funds," said councilman and Mayor Pro-Tem Floyd Hilliard. "And these figures don’t even take into account any of the revenue that the center can turn around. Overall, I feel really good about this project right now."
According to hired consultant Kirby Glaze, here are some of the figures on the Conference Center project:
- Around $1.5 million in SPLOST money already available.
- Around $354,000 in hotel/motel tax money available.
- $2.1 million in SPLOST money still to roll in for the project.
- The remainder of the balance to be financed via bonds in conjunction with the Richmond Hill Convention and Visitors Bureau.
"It’s certainly an optimistic outlook for the financial end of this project," said local resident and Conference Center critic Lynda Morse, who was in attendance for the meeting. "I still question the location, but at least the numbers are in line."