Subject:
Title
9:15 - 9:45 PM Navy Federal Credit Union Proposed Advance Funding Agreement with the Town of Vienna for Design and Engineering for the Aquatics and Fitness Center
Body
DATE(S) OF PRIOR COUNCIL CONSIDERATION OF THIS ISSUE:
10/20/25 - Town Council Work Session #2 - CIP Improvement Plan 2026-2042
9/15/25 - Town Council Work Session #1 - CIP Improvement Plan 2026-2042
EXPLANATION AND SUMMARY:
Request:
The Department of Parks and Recreation (DPR) seeks Town Council approval to authorize an agreement between the Town of Vienna and Navy Federal Credit Union (NFCU) for a $3,000,000 advance. These funds will enable the Town to hire a construction management consultant and architectural/engineering professionals to develop and complete design and construction documents for the proposed Aquatic and Fitness Center at 301 Center Street South. DPR also requests the Mayor's signature on the attached agreement.
Project Description:
In 2023, the Town of Vienna engaged residents to gather feedback on the potential development of a recreational Aquatic and Fitness Center at 301 Center St., S. This led to the creation of conceptual designs for a modern, 24,500-square-foot facility, complete with ample parking. The envisioned center aims to serve a broad spectrum of recreational and fitness needs, offering an inclusive and accessible environment for individuals of all ages and abilities.
Currently, no funding has been formally allocated for the project. The Town plans to finance the estimated $25 million cost through a combination of municipal bonds and alternative revenue sources, including the meals tax. The cost to develop the necessary design documents is estimated at $3,000,000.
To help accelerate the project timeline and in recognition of the community benefits the facility will provide, NFCU has offered to temporarily advance the funds required to begin and complete the design phase. The Town will fully reimburse NFCU as outlined in the agreem...
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