Project AWAYSIS would not be possible without funding from various sources. The following is a list of the proposed financing.

  • $9 million investment by Vision Iowa
  • $3.5 million general obligation bond issue
  • $7.5 million in bonds to be repaid by lodge revenue
  • $5.4 million from bonds to be repaid by existing Local Option Sales Tax
  • $680,000 in Local Option Sales Tax accrual during construction
  • $1.5 million from hotel/motel tax bonds
  • $500,000 contribution from Buena Vista County
  • $1.0 million from the sale/lease of condo lots
  • $650,000 Federal appropriation
  • $2.196 million road use and utility funds
  • $2.1 million in Tax Incremental Financing bonds
  • $2.25 million in private fundraising
  • $500,000 investment income
  • $800,000 Grants and rebates

Total: $ 37,576,000

Of this total, only the $3.5 million from general obligation bonds will create a property tax increase. For the average residential property in Storm Lake, the increase will be $52.20 per year or $4.35 per month.
(The final financing plan is subject to change due to final financing costs, timing, etc.)