Waverly likely to pay 'W' $600,000 - KWWL - Eastern Iowa Breaking News, Weather, Closings

Waverly likely to pay 'W' $600,000

The 'W' being built in 2007 The 'W' being built in 2007

WAVERLY (KWWL) -- The City of Waverly will likely pay $600,000 to Wartburg College to cover a revenue shortfall at the 'W' Rec Center. But city officials say its worth it.

As part of the contract to build the 'W', the City agreed to pay $150,000 per year for 8-years. On top of that, the city agreed to cover up to $600,000 if the 'W' failed to meet revenue goals from membership.

Waverly City Councilor Gary Boorom says the City will likely have to pay the full $600,000 for the first few years, as the 'W' gets membership up. But, he says the money will be worth it, giving Waverly residents free access to the 'W' for 30 years and having Wartburg run the City's Rec Department.

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