RIVERSIDE

Now that construction is about to begin on a wellness recreation center in Riverside, the financial part of the project is beginning to come into focus as well.

The City Council, during its regularly scheduled meeting Monday, approved a parameter resolution to cover a bond purchase agreement that is likely to be finalized this week by Mayor Allen Schneider and UMB Bank.

Voters approved an $8 million bond referendum last year, covering more than half of a project that may cost about $13 million, including additional construction and design costs, and financial costs.

Monday’s resolution tentatively covered an agreement that would finance up to $8 million at an interest rate that may be 4.99% although the resolution covered interest rates up to 5.75%.

An official from Speer Financial in Chicago, a consulting firm, told the board Monday night that the recent increase of federal interest rates caused a fluctuation in the banking market.

Garling Construction, a Cedar Rapids construction firm that won a $10 million bid to build the Wellness Center, is expected to begin work on the project this week.

A public groundbreaking ceremony is tentatively scheduled for November 7; the city is finalizing those plans this week.

The wellness center will be built near Highland Elementary School and is scheduled to open in spring 2028.

The center will include a full-size basketball court, running track, locker rooms and conference rooms.

Blackjack Annexation

The Council, after a public hearing Monday, approved the annexation of 160 acres near the Riverside Casino & Golf Resort that will be used for a water park and RV area.

The annexation clears the way for the Blackjack Beach RV & Water Resort that is being built by the Elite Hospitality Group south of the Riverside Casino & Golf Resort. The water park will use city water, one of the top reasons for the annexation.

The city is also finalizing a Tax Increment Financing (TIF) plan with Elite Hospitality.

The $35 million project is expected to feature a 70,000 square-foot water park that will have three pools, a water slide tower, a swim-up bar and a sandy beach. The RV portion would have 154 parking spots and a clubhouse building of 14,000 square feet.

Construction work has already begun with a tentative opening of spring 2027.

New in Town

Dane Matthews, the new Riverside City Administrator and a 20-year U.S. Air Force veteran, is in his second week on the job. Monday, during his first City Council meeting, he thanked the board members.

“This has been a really fun week,” he said.

With City Clerk Stephanie Thomann and Deputy Clerk Carrie Cole out of the office for portions of his first two weeks, Matthews has been in the office alone at times.

“It was kind of a good way to get introduced,” he said.

Matthews was manager of the Clear Creek Metropolitan Recreation District in Idaho Springs, Colorado, before accepting the Riverside position.

Speed Zone

A Washington County sheriff official told the board that the new 45 mph zone on Highway 22 in the eastern portions of the city has resulted in more traffic stops.

The speed limit was recently decreased to 45 mph, from 60, due to the city’s request.

A couple of City Councilors admitted that they may have exceeded the speed limit because they had simply forgotten that the speed had been reduced.

“Hopefully, they (sheriff deputies) don’t see any of our faces,” joked Mayor Allen Schneider.

Council Action

The Council approved a certificate of completion for the UV Disinfection Program project. The work was completed by WRH of South Amana with a contract amount of $386,600.

The Council approved a contract amendment with East Central Iowa Council of Governments (ECICOG), increasing the contract on the CDBG Downtown Revitalization project to $37,050.

The Board approved bonus pay of $1,500 to City Clerk Stephanie Thomann and $1,000 to Deputy Clerk Carrie Cole.

Next board meeting:

The City Council’s next formal session is at 6 p.m. November 2.