Updated: 05/27/2014 11:00 AM
Created: 05/27/2014 7:26 AM KSTP.com
By: Jennie Olson
The Vadnais Sports Center now has a new owner.
The Ramsey County Board of Commissioners on Tuesday approved a nearly $10 million purchase agreement for the sports center, also agreeing to buy two plots of land nearby for more than $750,000, which will be resold with the money being returned to the general fund.
A loan from the county’s Capital Projects Fund will be used to buy the sports center, and money from the general fund will be used for the two nearby plots.
The sports center was built for $26 million with costs covered by rental fees, but those expectations were never met. Despite this, the county says the Capitol Projects Fund loan will be repaid from money generated by the facility and that they have done their due diligence to make sure the sports center is a "viable operation."
Commissioner Blake Huffman said in a statement that the purchase will provide the county with a self-supported facility and ease demands on ice time needed by hockey teams and figure skating groups.
The county is expected to close on the project around June 30.