The proposed Rock Hill cycling center at the Riverwalk planned community is a step closer to reality. Rock Hill, SC officials say they have created a financially sound method to pay for the mix-use cycling center. This Monday Rock Hill City Council members will vote on constructing the five-million dollar park using Recovery Zone economic bonds provided as part of the federal stimulus program. The bonds will be purchased by Carolina First Bank (acquired by TD Bank) and according to the Herald Online roughly 1.2 million dollars of the original five million debt would be forgiven after seven years.
Read the full post at CarolinaCyclingNews.com.