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Groundbreaking This Spring
Mon November 5, 2012
FM Complex Requires More Money
The effort to build a multi-sport complex in Fort Madison is getting some help with some unanticipated expenses.
The fundraising goal for the project started at about $3.4-million, which included money to run the complex for a couple of years to allow revenue to come in.
Fort Madison Sports Complex Committee member Tim Gobble says the goal has been increased to nearly $4-million.
He says the boost is needed due to some recent engineering work and the initial construction bids that have come in for the project.
Gobble says no contracts have been awarded at this point.
He says some help is on the way with that as Greg Shottenkirk of Fort Madison and Andy Meardon of Iowa City (former FM resident) have each said they would match up to $100,000 in pledges.
“We would like to get the donations in before the end of 2012,” says Gobble. “A lot of that is because these are tax-deductible donations.”
The fundraising effort has already crossed the $3-million mark, including pledges from Fort Madison, Lee County and the state of Iowa.
Gobble says a groundbreaking will be held in the spring, even if more money is needed, to show that the project is moving forward.
He says the committee is applying for another $150,000 - $200,000 through grants and foundations.
The complex will feature soccer/football fields and baseball/softball diamonds. Fort Madison Partners estimates it could bring in 27,000 visitors each year at full strength.
$766,000 From Vision Iowa