Commissioners approve finance plan for parks

A plan to finance the cost of major projects at three county parks was approved by the St. Joseph County Board of Commissioners this week.
The resolution calls for a $1.4 million internal loan from the county’s Delinquent Tax Fund, with an annual interest rate of four-tenths of a percent.
As a result, Covered Bridge Farm and Plumb Lake parks, and Cade Lake Park and Campground will see major projects tackled this year, according to parks and recreation director Jaymes MacDonald.
The projects include nearly $570,000 worth of work at Covered Bridge Farm in Lockport Township, almost $400,000 at Plumb Lake in Burr Oak Township and about $410,000 at Cade Lake in Fawn River Township.
Commissioners considered bonding the projects, which would have cost $50,000 in fees, while interest alone would be an additional $37,000.
Under the proposal accepted Tuesday, parks and recreation will repay $95,000 annually for 15 years. The funds will be generated from rental and usage fees incurred from the three parks.