HUMBOLDT — The City of Humboldt has begun discussions regarding issuing a $150,000 short-term loan repayable over five years to assist the Humboldt Golf Club to build an events centre located at the golf course.
The Humboldt Golf Club is proposing to modify and expand their existing tent facility at a cost of $513,000.
Michael Behiel, Humboldt’s mayor, said the city has been asked by the golf club to potentially issue a short-term loan to assist in the initial funding of the facility.
“They’re in the plans of constructing an approximately 400-seat events centre on the golf course property and it would allow for the delivery of increased events from golf tournaments to gatherings to the ability to serve large quantities of people for banquets and stuff,” Behiel said.
“The loan agreement is in both sides best interest, because it will save them money from borrowing from the bank and it will generate revenue from the city at a higher rate than we’re actually earning on the money that we have in the bank at the moment.”
Following it being brought to council on March 28, council is obligated to provide ten days of public notice.
At an upcoming public special council meeting on April 11, administration will present the loan bylaw to council for the issuance of a five year agreement with the golf club.
If passed, the golf club would have an interest of 2.45 per cent compounded monthly.
Behiel said that other charitable organizations will be able to access the events centre at a reduced rate.
“There was some talk about using it as a temporary performing arts theatre for arts committees and stuff like that to allow plays or productions for the seating capacity.”
