EHLERS TEAM:
Philip Cosson
TIME FRAME: 2017

Recreation Center Project

CASE STUDY: City of Marinette, Wisconsin

The Goal

The City of Marinette was ready to begin construction on their Recreation Center Project after a decade of planning. The new facility was planned to attract and host concerts, trade shows and smaller gatherings as well as support multiple sporting activities by having an indoor track, gym sections and an ice hockey rink. The City sought assistance in financing $16 million.

The Solution

City officials engaged Ehlers to provide debt issuance & management services. Ehlers’ Municipal Advisors worked with City staff to devise a financing plan integrating funding sources from the County, a public sale and private donations.

The Results

The City closed on a $7.5 million taxable General Obligation Promissory Note in June 2017 with the County and issued a $7.89 million Anticipation Note through a competitive sale. With Ehlers’ analysis of their anticipated donation schedule, the City will achieve their projected debt service levy and tax rate impact goals over the term of the Notes once the permanent financing is secured.