Creative Financing Multi-use recreational facilities, land and site costs, furnishings, and operations don't come cheap. These funds are supplemented with grants, donations, and fund-raising. However, seniors are providing more support at the voting booths as they have increased ability to pay and a vested interest. Owners are finding more creative and yet fiscally responsible methods to successfully fund these projects and lighten the burden on taxpayers. Partnerships are now common among park districts and municipalities, school districts, hospitals, and corporations.
All parties share the benefits of collaboration.
The private sector proves that recreation centers can be profitable. Yet, the private sector still tends to focus on select portions of customer needs that translate into a positive revenue stream. The public entity may have the option to buy the facility from the private investor at a set date. City officials set aside gambling revenues to fund its redevelopment of the downtown area, so the new community center qualified for roughly half of this special funding, and bonds financed the balance. Interestingly, though, the debt service on those bonds is also financed by gambling proceeds.