The second phase of the Bethalto Sports Complex is one step closer to becoming a reality following the village board’s approval of an ordinance consolidating the village’s two outstanding Tax Increment Financing or TIF loans. The approved measure also allows the village to secure an additional $1.6-million that will be used to complete the second phase of the sports complex.
The new loan totals $5-million and Bethalto Mayor Steve Bryant says board members had to make this decision now so they could take advantage of low interest rates.
Bryant also says that the village will still need the $400-thousand OSLAD grant they applied for to complete the project as planned. If that funding is not received, he says they will have to scale down the expansion.
The current plan calls for the addition of four multi-use baseball diamonds, two little league diamonds, a football field, a soccer field, parking lots, the creation of a road connecting to Stadium Drive and a bridge that would connect the new portion to the existing sports complex. Bryant hopes to have the project completed by the start of the 2014 sports season.