North Myrtle Beach City Council met Monday in a workshop about a new sports complex that's in the works. The city already owns the land for the park, which is to include sports fields, a water park and a dog park.
It will be built near Highways 31 and 90.
Monday, council discussed the estimated cost, which city spokesman Pat Dowling says is $11,604,826.
"For the road that leads from Highway 90 to the edge of the park property, and all of the park amenities, except for the proposed Water Park, which is viewed as a public/private partnership," Dowling said.
The size and type of roadway leading from the edge of the park property to the actual entrance to the park have not yet been determined. Dowling says it will be brought up in a future workshop. It will add to the cost estimate.
North Myrtle Beach City Council had previously passed a $15 million bond to pay for the project. The bond will be paid for by a property tax increase of 6 mils, for 8 years. That increase equals about $48 per year on a primary residence valued at $200,000 or $72 dollars a year for one 200,000 commercial property.
Dowling says that tax increase will go away after eight years.
The $15 million will cover the total cost of the park, which will include eight multipurpose sports fields, an amphitheater, a dog park, and a water park. The bond won't be issued until the city's 2012 fiscal year, but they have to pass a bond reading at a public meeting first.
The council commissioned Carolina Coastal University professor Gary M. Loftus late last year to do a study on the economic impact of a sports complex. The study estimates a potential $14.2 million or more generated annually from more than 20 tournaments. In addition, almost new 200 jobs would be created. The city would also generate $224,000 annually in accommodation tax and hospitality fee revenues.
