January 10, 2012
The state Supreme Court will
wade into the Town Toyota Center default debate Tuesday. The high court has been asked by the Greater Wenatchee
Regional Events Center Public Facilities District, which owns the financially imperiled arena, to overturn a
lower-court decision that prevents the district from refinancing its nearly $42 million debt. The PFD is hoping
the high court will allow Wenatchee to back that debt, and rule that it does not exceed the city’s bonded
debt capacity of just over $20 million.
Still, it’s unclear how the supreme
court’s decision will affect Wenatchee and the recent efforts by FPD member entities to pursue a sales tax
increase to help pay off the loan.
To get the latest, KOHO’s Isaac Kaplan-Woolner
sat down with Wenatchee Mayor Frank Kuntz
The court could take months to issue a ruling,
but PFD attorney Pete Fraley said the district has requested a ruling on the debt capacity issue within 30