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The multi-million dollar project has been in the works since late 2012. After many obstacles created several delays, the City will see some solace in closing the funding now. With interest rates at extreme lows due to COVID-19, the interest rate on the $12M loan portion of the funding package has dropped from over 3% to 1.375%. This will save the city millions of dollars in interest over the 40 year term of the loan. For more information, contact Mart City Hall.