The Janesville City Council is leaning towards a 15 year note for the city’s $15.3 million borrowing portion for the Woodman’s Sports and Convention Center.

Finance Director Dave Godek says the 15 year loan, when borrowed over two years, would mean the average annual payment for a median assessed home in Janesville would be $39.09.

Godek says while that annual payment is a little higher than the original estimate of $38.25, taxpayers will avoid more than $2.5 million in interest expenses and the median assessed home will save $78.84 in interest payments.

Demolition on the project is slated to start at the end of February.