No news article, but the N&R editorialzes on the ‘swim center shuffle’:
The city’s new aquatics center is still afloat, thanks to a 7-1 vote of confidence Tuesday night by the City Council.
Specifically the council voted to fill a $6 million funding shortfall with certificates of participation financed by hotel-occupancy tax revenues.
Given the substantial promise of the planned facility, which will be built as part of the Greensboro Coliseum Complex, perhaps we ought to be cheering.
Maybe later. Right now it’s hard to feel anything but had.
OK, forget about yesterday’s confusion —- here’s the deal: City Manager Rashad Young identified the funding option of using certificates of participation to fill the gap in the aquatic center funding, which in turn would be paid off with the hotel occupancy tax.
Crazy, isn’t it? Yes, I feel bad for accusing council member Mike Barber of trying to slip in COPs for War Memorial Auditorium. But it doesn’t change the fact that this council is putting debt on top of debt in order to pay for this aquatic center. And that’s still not a good way for Barber to end his tenure.
