Daily Journal Corinth Bureau
CORINTH – Plans for extensive renovation and expansion at Crossroads Regional Park will advance after approval by the Alcorn County Board of Supervisors and the Corinth Board of Aldermen during this week’s regular meetings.
Both boards agreed to have their attorneys pursue interlocal agreements to include the Crossroads Regional Park board and the Corinth Area Convention and Visitors Bureau/tourism council.
The agreements would solidify a funding plan to finance work at the park, which is expected to total about $5.3 million.
The Crossroads Arena construction bond is due to be paid off in 2017, and officials would refinance those bonds for the park work. The arena’s 1 percent from the tourism tax would continue to be used to make the regular bond payments, which is currently about $440,000 per year and would increase to $535,000 per year for 20 years.
An allocation of $200,000 per year from the tourism council’s 1 percent of the tourism tax would continue to be directed to arena operations, and any excess revenue from the arena’s portion of the tourism tax would accrue in a “bricks-and-mortar” fund for repairs and upkeep on the arena building.
The county and city began discussing the park upgrade and funding in 2012, starting with a master plan for park improvements developed by Cook Coggin Engineers several years ago.
A scaled-down version of the plan is being finalized by Cook Coggin now, with added ball fields, an extended walking track and upgrades to other park facilities.