RAINSVILLE, Ala. – The Rainsville City Council is one step closer to refinancing a building that attracts thousands to the area throughout the year.
Members recently approved an ordinance to help them refinance the Northeast Alabama Agri-Business Center. The center is where rodeos are held as well as some drive-through COVID-19 vaccinations clinics and food drives.
Mayor Rodger Lingerfelt says refinancing will lift some of the city’s debt and save them around $754,000 over the next 29 years.
It breaks down to just over $2,100 each month.
“That relieves that money up to be able to do other things in the city, so that in itself is a big savings for the PBA (Public Building Authority) and the city,” Lingerfelt told News 19.
Lingerfelt explains the PBA manages the center, but the city leases it.
He says they also plan to install more stalls to attract even larger events in the future.