Debt Resolution Receives
June 21, 2019
The City of La Crosse has a plan to make its debt payments for the La Crosse Center after the La Crosse Common Council voted unanimously to approve a resolution on Thursday, June 13.
In 2016, the La Crosse Common Council approved borrowing $35 million. The La Crosse Center has also received a $5 million state tourism grant and set aside $2 million in other funds for the project.
That debt is expected to result in an annual $2.5 million debt service payment, which the resolution addresses.
Under the repayment plan, the payment would be broken down into $1.3 million from hotel room tax dollars, $25,000 from facility fees, $100,000 from La Crosse County and $50,000 from Onalaska, with the remainder coming from the city property tax levy. If La Crosse County and Onalaska choose not to contribute, those funds will be paid for out of property taxes.