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New group looks to take over Bremerton soccer center
A new group of investors is looking to take over operations at the Olympic Soccer and Sports Center at Pendergast Park, a city owned property.
The Bremerton city council was set to hold the first of two public hearings this week regarding a new agreement. A group of investors under the OSSC name has operated the facility since 2001, but a new group, called Keystone Financial Management, Inc., is hoping to take over.
Under the terms of the proposal, Keystone will operate the facility for the next three years under a sub-concession agreement, make various improvements and ultimately take over the lease that OSSC has in place with the city.
The city leases the space for $1,200 per month, a rate that is adjusted annually for inflation, and also collects a leasehold excise tax. Also as part of the lease, the city is guaranteed 150 hours of use at the facility for recreation programs.
Dennis Michael, a representative of the OSSC group, declined to comment on the possible lease change, preferring to wait until the public process plays itself out a bit more. Bremerton Parks Director Wyn Birkenthal says that OSSC is current on all payments to the city.
Birkenthal said that Bill Wright, one of the principals at Keystone, had a warm reception at the Bremerton Parks Commission and, more recently, at a city council study session.
“(Wright) has plans for increasing the quality of the facility, the physical appearance of the facility and operating it in a very community minded manner,” Birkenthal said. “Keystone has also selected a new, experienced soccer facility manager. This all is probably going to have a little bit better reach for the facility and hold some good things for the future of Pendergast Park.”
Keystone, which operates out of Silverdale, is an asset management and financial consulting firm that specializes in mergers, acquisitions, and operations of companies that have undervalued or unused assets, services or solutions in diverse industries.