AUBURN — Councilors are taking their time reviewing a proposed dual rink ice arena, Mayor Jonathan LaBonte said Tuesday.

“This is potentially a 30-year agreement,” LaBonte said. “It’s worth councilors digging down and doing a bit more research.”

Meanwhile, residents reiterated their concerns about the proposal.

“I’m scared of this because if it’s that good a deal from a business perspective, it would be done privately,” said Andy Titus of 17 Lamplighter Circle. “If they are asking for public help, it must mean that there’s a good chance we’ll be on the hook at some time in the next 30 years.”

Councilors discussed a proposed 30-year lease on the facility in executive session but didn’t make any decisions at their special meeting Tuesday night. LaBonte said councilors had questions about the proposed lease and directed city staff to report back at future meetings.

The proposal calls for a shared agreement between the city and developer George Schott to build the arena on land Schott owns on Turner Street, behind Shaw’s and across from the Auburn Mall.

According to the deal outlined so far, Schott would borrow the $8.5 million to build the facility using private financing, leasing it back to the city each year for 30 years, according to an outline agreement approved in July. The city would have the option of buying the property outright during that time.

According to the updated financial forecasts, the ice arena would bring in $1.35 million it’s first full year. Costs would come in about $1.33 million that first year, leaving a $19,000 surplus. Costs include lease payments to Schott and $140,000 in property taxes to the city each year.

Plans call for the proposed rink to have seats for 800 spectators in one rink, 200 in a second rink, 300 in a shared mezzanine and standing room for hundreds more.

The new arena would also feature 14 locker rooms for teams, a pro shop and second floor warm spectator area with a concessions stand.

Councilors also reviewed an alternative financial plan that involved the city borrowing the money to build the arena itself. City Manager Clinton Deschene said that structure was potentially more expensive. It was built on $10.5 million in borrowing costs, but gave the city a better interest rate.

But Deschene said it pushed back the timeline. A city bond scenario would require a public referendum. Deschene estimated Friday that that could happen in November but said Tuesday that it couldn’t be scheduled until January. That could push public opening of the facility from September 2013 to July 2014.

“There are pluses and minus to both options,” Deschene said.

LaBonte said that’s one of the things councilors were reconsidering.

“Councilors are asking many of the same questions we’ve heard tonight,” LaBonte said.

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