Jasper RDA advances Regional Wellness Center financing; Council approves $34M bonds

The Jasper Redevelopment Authority advanced preliminary bond and financing actions for the Regional Wellness Center at its Feb. 18–20, 2026 meeting and opened a TEFRA public hearing that drew no public comment and was closed the same day. The RDA approved a preliminary official statement for the project, noting that Baker Tilly and city staff had reviewed the document, and adopted a resolution saying the preliminary official statement was approved and the TEFRA hearing had been held.

City attorney Renee Kabrick explained the TEFRA hearing’s purpose, saying “the hearing is part of the bonding process, since there will be tax exempt bonds used as part of the financing for the Center.” RDA members were told there is an as-yet-unidentified space in the facility that could be used by another entity in the future, which required the TEFRA step to preserve the tax-exempt status of any private activity bonds. With no members of the public speaking, the hearing record was closed.

At a recent Wednesday regular meeting, the Jasper City Council unanimously approved a resolution authorizing a $34 million bond financing plan for the Regional Wellness Center project. Council members were presented a financing structure that mirrors the city’s outdoor aquatic pool approach, using lease agreements between the Redevelopment Authority and the Redevelopment Commission to avoid exceeding the city’s constitutional debt limits.

City officials said a guaranteed maximum price for construction is expected sometime between mid-February and early March 2026, after which bond amounts will be refined. The financing plan is scheduled for submission to S&P Global Ratings for credit evaluation in the coming weeks, and bond issuance is targeted for March 2026. Kabrick reported the design team produced a first electronic walkthrough of the facility, calling it “very impressive” and “very cool,” and said the virtual tour should be available for public viewing within the next two weeks.

Funding for the project was presented as a mix of campaign gifts, grant dollars, and bond proceeds. Officials cited a $15 million YMCA Better Together capital campaign as a major component, with about $3.8 million expected to be available by the end of March 2026 and $11.1 million pledged through February 2028. The city has also secured a $5 million READi Grant to support the project.

City planning director Josh Gunselman tied the wellness center to broader economic development, noting that “these two parcels in this area of development have been for sale since 1998 with very little to no actual development occurring.” Gunselman said connecting a road between U.S. 231 and Mill Street and the potential project “will spur that development along and really have a positive benefit in raising the property tax base, increasing the income tax base, creating hundreds of jobs as well as we have a food and beverage tax that supports our regional wellness center, it’ll increase the funding available for that.”

The actions mark a reversal from an April 12, 2025 pause in planning that Mayor Dean Vonderheide reportedly attributed to an “unsettling of future funding.” With GMP timing, S&P review, and the virtual walkthrough release all imminent, municipal officials say the next month will likely determine final bond sizing and the timetable for construction.