June 13, 2011
If the City of Wenatchee is looking to the business community for
answers on how to meet its debt obligations on the Town Toyota Center, it may be disappointed with the response .
. Wenatchee City Council members discussed the City’s looming debt crisis last Friday with a group of area
business leaders. Steve Hair reports that there’s still no clear answers for how the City will proceed . .
The so-called blue ribbon task force has been asked to provide advice to the City on how the Town Toyota
Center’s construction debt can be paid off. The City has put forward a variety of scenarios such as property and
sales tax increases, service cuts, employee layoffs that might generate the upwards of 3.2 million dollars needed
for annual debt payment on the 41 million dollar bond . . But the clock is ticking and the City has to come up
with a plan of action before the end of the year when the interest only bond anticipation note expires.
Town Toyota Center is owned by the Greater Wenatchee Public Facilities District which is comprised of several city
jurisdictions and both Chelan and Douglas Counties. All of those entities would have to approve plans to put a
sales tax measure on the ballot.