The wellness center in Clear Lake is making more progress.
The city council now giving the okay to the $700,000 for their share in the project.
Report./// a big project in clear lake is one step closer to reality.
Kimt news 3's nick kruszalnicki joins us live now with an update on the wellness center ?
"* nick?
Xxx george and katie ?
"* the wellness center will be built here (describe what it's near).
It will cost around 11 million dollars ?
"* most of it funded through the school district's bond referrendum earlier this year.
Now the city has given the okay to the 700 thousand dollars for their share in the project.
Xxx while all the bids from local banks were competitive ?
"* m?*- b?
"*t bank came in at the lowet intrest rate of point three seven percent.
City administrator scott flory says the city is getting a great deal on a loan that large.
"around the country, you are not going to see a rate like that ever.
You know, that's a once in a generation, maybe once in a couple generations you might see something like that."
In 2022, the city will make it's first payment on the loan in the amount of 138 thousand dollars.
It should all be paid off by 2026.
The council tonight also finalized their agreement with the school district.
The document spells out the terms of how the wellness center will be the wellness center is expected to be completed by december of 2021.
Live in clear lake, nick kruszalnicki, kimt
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