A potential funding method for a sports quadplex was discussed Tuesday with Houston City Council members.
LEASE PURCHASE OPTION
Edward McLiney, senior managing director of McLiney and Company in Kansas City who has assisted the city with other financing projects, spoke with the council about a potential lease purchase option for an outdoor recreational facility (quadplex). The city would like to build a facility similar to one recently completed in Belle, Missouri.
The estimated $3.5 million lease purchase option would be part of a $5.5 million total project cost, with the remaining funds covered by the city, largely through its recent sale of its fiber internet program. Annual payments are estimated at just over $300,000, which the city believes would be comfortably supported by annual sales tax revenue dedicated to the project. Revenue is generated by a half-cent sales tax for parks.
McLiney highlighted the city’s strong fiscal management over the years, stating, “You have the money to do a project like this because of good management for a long time here in town.”
If the city were to move forward, the next steps would involve determining land, preparing an official statement detailing the project and setting a date to finalize financing through institutions. The city is exploring excavation costs for a site it earlier bought on Thomasville Road.
The sale of the lease purchase option would then be conducted and the winning institution would break the option into $5,000 denominations for resale to individuals, banks and other investors. Once funds are received, they would be placed into a trust, with the bank authorized to disburse payments for the city’s project expenses.
No action was taken.
TUESDAY’S CITY COUNCIL MEETING
- John Sheehan spoke to the council about his concern for dangerous buildings at 109 and 111 S. Grand Ave. He believes the city has made an effort to correct the issues, but should consider actions to possess and secure the buildings.
- Kathy Richardson asked if downtown merchants could receive electricity subsidies. Don Romines, Ward III alderman, stated that a third-party is conducting a utilities rate study and the city will consider this as part of the recommended actions.
- Robbie Smith, fire chief, was approved to seek a 50/50 matching grant from the Missouri Department of Conservation for a fire skid unit and Stokes basket.
- The city will seek advice from the Missouri Municipal League (MML) on what to charge for sewer services on properties that receive water from rural districts.
- The purchase of a 48-niche columbarium at Pine Lawn Cemetery was referred to the utilities and buildings committee. A $16,785 bid from Texas County Monument was considered, but members wanted to see a picture of the item before making a decision. The columbarium is offered at cost, according to City Administrator Lloyd Wells.
- A $16,725 bid for a motor replacement at the wastewater treatment plant was approved. Wells mentioned that about $100,000 should be in next year’s budget to fix previously identified inflow and infiltration issues. Jerry Jackson officially retired from the department on Sept. 1.
- A $22,300 from LeeBoy for a pneumatic roller was approved. The council also approved selling an old paving machine for no less than $10,000.
- Willard Asphalt of Lebanon will be in town in September to do overlay paving of previously approved streets.
- Nuisance situations downtown and repairs to a parking lot on South U.S. 63 were discussed. Repairs of alleys and sidewalks, and enforcement of grass ordinances were also mentioned. Frequent, brief electric disturbances were also a concern of several council members.
- A $50,816.12 bid from SiteOne Landscape Supply was approved for a golf course irrigation system. Installation is planned for January.
- Council members verbally committed to putting about $100,000 in next year’s budget for playground equipment upgrades at Emmett Kelly Park.
The meeting adjourned into closed session at 7:09 p.m., after an hour and 39 minutes. In closed session, the council voted to increase Police Chief Brad Evan’s salary to $88,673.91 effective Jan. 1, 2026. The vote passed 4-2, with Ward I Alderman Fred Stottlemyre and Ward II Alderwoman Sheila Walker voting no.
