Cary to pay $14m for swim center?

May 11, 2009 6:15:18 PM PDT
The nonprofit organization that built and operates the Triangle Aquatic Center says it's drowning in debt and wants a lifeline.According to published reports, it's proposing that the town of Cary buy it for $14 million.

Considering that Cary - like just about every other municipality in the country - is looking for ways to cut spending in the tough economy, the idea could be hard to sell to city leaders.

Cary's past history with the TAC could also be a factor. Cary at one time had plans to build a more inclusive - and larger - swim center, but that idea was dropped when the Triangle Aquatic Center was built.

In 2000, there was another group that wanted a center that more people in the community could use. Instead, the TAC caters mainly to swim teams, schools, and aquatic groups.

Triangle Aquatic Center's current proposal to Cary reportedly involves the town taking over $10 million in debt owed to Wachovia bank and another $3.8 million owed to the Curran Family Foundation.

TAC has three pools at its facility on 21.5 acres of land. It opened in October 2007.


Load Comments