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CITY, N.D. (NewsDakoa.com) The total cost of the Valley City Health, Wellness & Physical Education Center is now at million dollars according to board members with the Sheyenne Valley Community Foundation.

So far nearly $13.1 million dollars has been approved or committed for construction with another $3.8 million pending.  

Valley City Park and Recreation board chairman Dick Gulmon says pending board approval bids could be let on the $17 million dollar project following their regular meeting on March 4.

Park and Recreation Director Tyler Jacobson say’s the bid opening will be held on April 1. The board will then have 30 days after the bid opening to accept or reject the bids.

Construction Uses of Funds:

Building: $12 million, Swimming pool $1,250,000, Architectural & Engineering (Includes civil, sw. pool, misc) $1 million, Soft costs $200,000, Site work $1,650,000 and Contingency (5%) $900,000. Total $17 million.

Construction Sources of Funds:

State Challenge Grant $1 million, Student Fees/Bond $2 million, Sale Tax/Bond $3 million, Existing Tax Revenues/Bond $1,250,000, Cash in the Bank and In-Kind $2,245,000, Projected Cash in 2015 $685,000, Additional Signed Pledges $2 million, Pledges pending $1 million. Total: $13,180,000.

Fundraising Summary: Bank Loan-Funds to be raised within 5 year term $2 million, Pledges or Cash needed to proceed with project* $1,570,000 and Barnes County Economic Development Funds/Need Approval $250,000. Total: $3,820,000.

*Note, final amount needed will depend on construction bids. Does not include interest.

The above figures concerning construction funds and fundraising on the Health, Wellness & Physical Education Center were provide to us by the Sheyenne Valley Community Foundation on February 25.