
Morgan County Event Center exterior almost finished, interior work progressing
"It's going to be good for the whole area," said Morgan County Commission Chairman Ray Long. "It's going to be something for all ages to use. It will be available for everybody, not just the east side of the county. We'll use it for ball games, we'll have different events in it. It's something that everybody will be able to enjoy for years to come."
The 34,627-square-foot event center will be located on 24 acres at Luker Road and Union Hill Road, across the street from the District 4 shop in Cotaco. Greg Abercrombie, Morgan County District 4 commissioner, said that about 20 months ago, the county used 3M Co. settlement money to purchase the land for about $180,000.
The Morgan County Commission approved about a $7.16 million bid for the event center in April 2024. The county will spend about $2 million from the 3M settlement money and about $5 million from American Rescue Plan Act funds.
"Joe Wheeler (EMC) contractors were out there (Tuesday) putting up power lines," Abercrombie said.
Abercrombie said the HVAC system has been installed. He said they will need to turn on the air conditioning several weeks before the center opens.
"The wood, when they bring it in, it's still in the pallets," he said. "The room has to be the temperature of what we're basically going to keep it once we open them up. So, it has to acclimate to that room temperature for a minimum of a month. That's when they can actually take the wood out of the pallets and begin putting it down on the floor."
Abercrombie said the wood will warp if it does not become acclimated to the room temperature.
"They want it to stay in the same temperature so it will stay its normal size and not expand and contract," he said. "We need the floor to be smooth."
There will be two gymnasiums. The upstairs concrete walking track has already been poured, Abercrombie said. He said the fire alarm and sprinkler systems have also been installed and so have some of the lights in one gymnasium.
"Right now, we've been in the process of ordering bleachers and the pads that go on the ends of the walls on the basketball courts," Abercrombie said.
Abercrombie said the exterior is almost complete. He said they are finishing bricking the front of the center.
"Where the front doors are, they've still got that completely out," he said. "Still having to go back and forth in with a mechanical lift. They can't seal that up yet."
The sidewalks are poured on three sides, Abercrombie said. They have not built the sidewalk in front of the center yet due to the lift going in and out of the building. The gutters could be installed this week.
"It's really changing right now," Abercrombie said.
At Tuesday's commission meeting, the commission approved putting out a bid request for the construction of an onsite sewer system for the center.
"For my area, we've never had anything like this, ever, in our district," Abercrombie said. "In my area, I think it's going to bring the communities out that way to one facility to use."
Abercrombie said they do not have a date set for when the center will open.
"It's probably like any other entity being built like this, everything seems like it's going great in a timely manner, but now and then there will be an item that has been ordered but hasn't come in," he said.
With that caveat, Abercrombie said he hopes it will be complete by the first of next year or sooner.
Long said he would like to have more event centers across the county eventually.
"But funding has a lot to do with that," he said. "Eventually we'd like to have a few more gyms scattered around the county. But we don't have a time frame because money is always the key. Right now, we don't know what's going to happen with the economy — a lot going on."
—erica.smith@decaturdaily.com or 256-340-2460.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Associated Press
4 days ago
- Associated Press
3M Board Declares Quarterly Dividend
ST. PAUL, Minn., Aug. 15, 2025 /PRNewswire/ -- The 3M Board of Directors (NYSE:MMM) today declared a dividend on the company's common stock of $0.73 per share for the third quarter of 2025. The dividend is payable Sept. 12, 2025, to shareholders of record at the close of business on Aug. 25, 2025. 3M has paid dividends to its shareholders without interruption for more than 100 years. About 3M 3M (NYSE: MMM) is focused on transforming industries around the world by applying science and creating innovative, customer-focused solutions. Our multi-disciplinary team is working to solve tough customer problems by leveraging diverse technology platforms, differentiated capabilities, global footprint, and operational excellence. Discover how 3M is shaping the future at Investor Contact: Diane Farrow 612-202-2449 or Eric Herron 651-233-0043 Media Contact: [email protected] View original content to download multimedia: SOURCE 3M Company


Chicago Tribune
5 days ago
- Chicago Tribune
Aurora City Council pushes back on possible reductions in support for Paramount
The city of Aurora is looking at pulling back on discussed financial support for the Aurora Civic Center Authority, which owns and operates the Paramount Theatre, but some City Council members are saying they're concerned about the possibility. The matter came up at Tuesday's Aurora City Council meeting, when the council heard a presentation on the city's 2024 audit and discussed the city's future financial concerns. The presentation described the city's use of American Rescue Plan Act, or ARPA, funds during the COVID-19 pandemic, money which had to be obligated by 2024 and spent by 2025, Aurora Chief Financial Officer Stacy Peterson told the council. Much of that funding was spent on ongoing costs, she said, like the ShotSpotter system, body cameras and dash cameras for the police, the addition of 49 full-time employees and financial support to things like the Aurora Civic Center Authority. Peterson also noted that costs for the city went up in 2024, as did the city's debt, and revenue stayed the same or went down slightly. Aurora is facing a significant budget gap for the coming year, Mayor John Laesch recently said. In addition to other attempts to cut costs or generate more revenue, one recent move was the cancellation of the proposed City of Lights Center theater and event space that would have been managed by the Aurora Civic Center Authority, according to past reporting. The project didn't make sense to him or others, and the price was just too high, Laesch has said. Laesch also recently said that the city has been giving the Aurora Civic Center Authority 'way too much,' according to past reporting. In addition to the Paramount, the Aurora Civic Center Authority owns and operates the Copley Theatre, Paramount School of the Arts and North Island Center, as well as manages the city-owned RiverEdge Park and Stolp Island Theatre. Earlier this month, ACCA said in a letter to subscribers that the city's previously-communicated financial support of the organization could be reduced by up to 65%, a change made after programming and budgeting had already been committed for 2026, according to past reporting. The organization said its Bold Series would be going on hiatus after the final performance of its current production, 'True West,' on Aug. 31 at the Copley Theatre in downtown Aurora. ACCA also reduced its full-time staff by around 20%, President and CEO Tim Rater previously said. ACCA was facing a $7 million shortfall in its 2026 budget, and under former Mayor Richard Irvin, the city was considering filling that gap, according to past reporting. That planned support represented roughly 20% of the organization's overall yearly budget, according to Rater. In a statement, Laesch reiterated that the ARPA funding that had previously been supporting the Aurora Civic Center Authority was no longer available, and he said that the city has offered to help with fundraising, cross-promotion and other initiatives to help the organization's finances. A spokesperson for the Paramount on Thursday said that it is continuing to negotiate with the city, but declined to comment further on the organization's plans going forward. At Tuesday's City Council meeting, council members noted that there had been pushback from constituents about the possibility of the city reducing financial support for the Paramount. Ald. Jonathan Nunez, 4th Ward, said that 'upset is an understatement' in terms of the response he's gotten from constituents. 'Our budgeting and our revenue and expense proposals are basically a reflection of our community's values,' Ald. Carl Franco, 5th Ward, said at Tuesday's meeting. 'I think we all know how the community feels about the value down there … it seemed like that was a harsh way to start.' Laesch said at the council meeting that the city has never had a budget line for ACCA, and that Aurora is facing significant financial challenges. The city will provide an update to the council on its financial situation on Aug. 26, per the presentation from Tuesday's meeting. 'I think when you get the Aug. 26 financial update, I think you'll probably realize just how serious of a financial situation the city's in,' Laesch said. 'I'd say that it (is) probably going to be pain felt all over.' But City Council members expressed concern that possible cuts to the Paramount would have an impact beyond the theater itself, to surrounding businesses and restaurants, for example. 'The engine, as we know, is the arts down here, and I hope it doesn't affect them,' Franco said. 'I hope … that it doesn't see them leaving, because that's revenue for us.' Ald. Patty Smith, 8th Ward, said it might mean less people coming to Aurora overall. 'The cuts are going to come back at us,' Smith said. 'The people that come to Aurora because of our Paramount will no longer be coming here because we're not going to be offering the quality and the shows and the amount of shows that we have had in the past.' Ald. Edward Bugg, 9th Ward, said there was a 'gap here … in terminology,' noting that city funds for ACCA hadn't been budgeted yet, but were merely projections for next year. Ald. Will White, at-large, said he believes the city should support the arts, but asked if there is any oversight from the city as to how money is spent when they give it. Laesch said he thinks the city can look at its finances, and said that the city will need to have some oversight on the accounting at ACCA. As the city continues to grapple with its financial troubles, the council on Tuesday suggested some direction for how it wants the city to proceed in supporting the Paramount. Ald. Michael Saville, 6th Ward, for example, advocated for 'more of a soft landing to assist them, rather than something so drastic.' 'I think everybody recognizes that (funding) needs to be cut,' Saville said. 'The question is: can we do it in such a way where it doesn't hurt their programming and doesn't hurt the businesses and doesn't hurt the economic activity that we've established here?'
Yahoo
6 days ago
- Yahoo
3M Company Rises 22.3% YTD: Should You Buy the Stock Now or Wait?
3M Company's MMM investors have been witnessing some short-term gains from the stock of late. Shares of the diversified technology company have surged 22.3% in the year-to-date period, outpacing the S&P 500 composite and the Zacks Diversified Operations industry's growth of 8.3% and 0.5%, respectively. The company has also outperformed industry players like Carlisle Companies Incorporated CSL and Honeywell International Inc. HON, which have returned 4.3% and lost 3.9%, respectively, over the same time frame. MMM Outperforms the Industry, S&P 500 & Peers Image Source: Zacks Investment Research Closing at $157.85 in the last trading session, the stock is trading below its 52-week high of $164.15 but significantly higher than its 52-week low of $121.98. 3M stock is trading above both its 50-day and 200-day moving averages, indicating solid upward momentum and price stability. This reflects a positive market sentiment and confidence in the company's financial health and long-term company's impressive performance has largely been driven by its strong foothold and improving conditions in the transportation, industrial adhesives, aerospace, defense and electrical markets. MMM Stock Trading Above 50-Day & 200-Day Moving Averages Image Source: Zacks Investment Research What's Behind 3M Stock's Momentum? The strongest driver of 3M's business at the moment is solid momentum in the Safety and Industrial segment, driven by strength in personal safety, roofing granules, industrial adhesives and tapes, abrasives and electrical demand for electrical infrastructure products like medium voltage cable accessories and insulation tapes augurs well for the segment in the quarters ahead. Also, an increase in demand for industrial and electronics bonding solutions bodes well for it. The segment's organic sales improved 2.5% year over year in the first six months of Transportation and Electronics segment has also been witnessing positive momentum, cushioned by strength in the transportation and aerospace end markets. Solid momentum in the electronics, aerospace and defense, personal auto and commercial graphics markets, driven by demand for new products and expanding sales coverage, is proving beneficial for the segment's adjusted organic revenues grew 1% in the second quarter. Backed by strength across its businesses, the company provided a positive outlook. For 2025, it expects total adjusted organic sales to grow 2% on a year-over-year basis.3M has also been undertaking structural reorganization actions to reduce the size of its corporate center, streamline its geographic footprint, simplify the supply chain and optimize manufacturing roles to align with production volumes. It expects these actions to be completed by 2025 and yield annual pre-tax savings. In the first six months of 2025, these actions, together with strong organic volume and productivity, raised 3M's adjusted operating margin by 250 basis points year over year to 24%.MMM remains focused on rewarding its shareholders through dividend payouts and share buybacks. In the first six months of 2025, it used $786 million in paying out dividends and $2.2 billion in buybacks. Also, in 2024, it paid dividends worth $2 billion and repurchased shares for $1.8 billion. In February 2025, the quarterly dividend was hiked by 4%. MMM's Near-Term Concerns Weakness in the consumer retail end markets, owing to subdued consumer discretionary spending, remains a concern. This is reflected in the Consumer segment's results, which remained relatively flat in the first half of 2025. There was a particular weakness in the packaging expression business. Also, persistent weakness in the automotive OEM business, due to low auto build rates, particularly in Europe and the US, is concerning for second-quarter 2025, 3M's long-term debt was high at $12.5 billion, reflecting an increase of 1.6% sequentially. Also, interest expenses in the first half of the year remained high at $492 million. Its short-term borrowings and current portion of long-term debt totaled $669 million. 3M's long-term debt-to-capital ratio is currently pegged at 74.1%, significantly higher than the industry's 54%. High debt levels, if not controlled, can increase financial obligations and prove detrimental to profitability in the quarters company has also been subject to several litigations, including earplug lawsuits. It has committed substantial funds to resolve these disputes, as ongoing litigation might lead to additional expenses. Valuation Remains an Overhang MMM is trading at a premium to industry peers with a forward 12-month price-to-earnings (P/E) multiple of 19.29X. The current valuation is above its five-year median of 15.98X and has surpassed the broader industry's multiple of 16.40X. While its peer, Carlisle, is trading cheaper compared with MMM, Honeywell is trading at a premium. Notably, Carlisle and Honeywell are trading at 16.44X and 19.69X, respectively. Image Source: Zacks Investment Research MMM's Earnings Estimate Revision The Zacks Consensus Estimate for 3M's 2025 earnings has increased 3.8% to $7.92 per share over the past 60 days, indicating year-over-year growth of 8.5%. The consensus mark for 2026 earnings increased 2.2% to $8.35 per share, indicating a year-over-year increase of 5.3%. Image Source: Zacks Investment Research Final Take on 3M Given the strength across most of its businesses, solid earnings estimates and robust share price returns, maintaining a position in 3M appears to be the right choice. Challenges, such as weakness in the retail market, high debt level and premium valuation, are limiting this Zacks Rank #3 (Hold) company's near-term current shareholders should hold their positions, new investors should wait for the stock to retract some of its recent gains and provide a better entry can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Honeywell International Inc. (HON) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Carlisle Companies Incorporated (CSL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research