T.I.S.D. to Lease Texarkana College Aquatic Center
The Texas High Tigersharks will continue to have a great place to practice.
It's under a lease agreement that will see the school district take control of the Texarkana College Aquatic Center.
The Texarkana Texas Independent School District Board of Trustess as approved a 30-year lease agreement with Texarkana College for their Aquatic Center beginning January 1, 2019 and ending on December 31, 2048. This lease, in the amount of $10 along with other good and valuable considerations per year paid in advance, will place interior building maintenance and renovation costs with TISD in order for them to continue their successful state award winning TigerSharks Swim Program.
“Texarkana College has made the decision to close their aquatic center due to facility conditions and renovations costs,” said Paul Norton, Superintendent of Schools. “Knowing the importance of the pool to the TISD swim program, TC Trustees offered TISD the opportunity to lease the facility and absorb renovation costs.”
In a review of the plan of financing the aquatic center renovations, Doug Whitt, Senior Managing Director for SAMCO Capital Markets, shared with the Board the funding options for the estimated $2 million project. Costs for the renovation can be funded through Time Warrant financing up to $1 million with the remaining funds covered through a Maintenance Tax Note.
With TISD Trustee anticipated approval of funding during the October 16, 2018 regular session, renovation would begin in January 2019 and be completed by late summer 2019. The TISD swim program would find an alternate facility for practice sessions during the construction time period.
Other aspects of the TC/TISD agreement allows TISD to terminate the lease with a 12-month written notice and gives naming opportunity on the exterior as TISD Aquatic Center.