The Vision Iowa Board on Wednesday awarded a $750,000 grant to a project in downtown Waterloo.
Board spokesperson Jessica O’Riley says Cedar Valley SportsPlex carries a total price tag of just over $22 million.
The facility is set to include a large field house for indoor soccer and other activities, a gymnasium with basketball courts, a walking/running track, a weight lifting room, personal fitness studios, a child care area and playground, locker rooms, meeting rooms and more.
The Waterloo Development Corporation had requested a $1.5 million grant, but will receive half that amount. Rick Young, who has spearheaded the fundraising effort for the Cedar Valley SportsPlex, addressed the Vision Iowa Board by phone.
“We appreciate the commitment, but I must admit we’re upset we did not get the full amount and it was cut in half from what we thought we negotiated with you on,” Young said. “But, we appreciate it.” The $750,000 grant is contingent upon the nonprofit Waterloo Development Corporation being able to come up with matching funds by the end of 2013.
Organizers have said they still need to raise roughly $4 million to complete the project, which may also include an indoor swimming pool.
Photo courtesy InVision Architects