Jasper Redevelopment Commission

Initial estimates placed the cost for the pool’s completion at around 9 million dollars. When bids were received, however, they came in significantly higher than expected. This is due to a number of factors, but primarily due to the state of the market. Since some components were priced at almost double the expected cost, budgets were reviewed and the plans for the pool reassessed. After discussing the options, a financing plan was created that will allow the Parks Department to be able to complete the project. 

The commission agreed that the best use of the city’s assets was to increase funding in order to ensure that the completed pool is an investment that will benefit the city over the long term rather than compromising the quality of the facility in an effort to avoid additional expenditures. The total project is currently estimated at just under 10 million dollars, which includes an 8% contingency on construction and a 5% contingency on components. Bond proceeds available for funding the pool’s construction are estimated to be just under 9.2 million dollars. By Wednesday, all figures as far as the exact cash contribution needed will be available for review. The commission approved a resolution for additional appropriation of $1 million in funds for the pool project, although it is expected that the actual funds required may be less. 

For more information on these and other updates, visit jasperindiana.gov or JasperGov-Indiana on Facebook. - By Drew Hasselbring