Neillsville American Legion Has Bright Future
Friday, October 26th, 2012 -- 1:00 PM
-The American Legion Hall here in Neillsville has been providing over five years of service to the community.The facility has held numerous events for the community and is run by the hard working volunteers of the American Legion.
Since its opening however, the long term debt has been an issue for the facility. The original plan in 2006 was to have the project financed by contributions and proceeds from the sale of the old building. But the cost of construction exceeded the money raised and so a bank mortgage was the result.
The American Legion Faculty board took the challenge head on to make sure the facility would continue to serve. An investor LLC was formed for the purpose of holding the long term debt of the facility so the Legion and its volunteers could focus on operations.
Through a mutual effort the LLC and the banks came to an agreement on the sale of the mortgage to the LLC.
The LLC intends to acquire the debt with Regional Planning and is working on that part to be concluded in the near future which will assure that the hall continues to serve the community.
All four banks understood how important the facility is to the community and want it to continue just like the many shareholders and businesses that appreciate the facility.
The move that has been done will assure the Legion Hall will continue for many years without the concern of debt, which the LLC will hold.
Feel free to contact us with questions and/or comments.