September 2009

$150 Million for a new Events Center? Yeah right.

l3wis September 29, 2009 3Comments

We have heard this song and dance before;

The parking fee is among emerging details as promoters seek support for a
$150 million entertainment and sports complex next to the Arena and Convention Center.

Remember the $18 million dollar renovation of the Washington Pavilion that has costed taxpayers $40 million to date and we are still not done with the building (this is construction costs NOT subsidies). Or the $1.5 million for Phillips to the Falls that ended up costing twice that (after the mayor broke city ordinance to approve the 100% increase in spending). Not sure where this number is coming from, but I can guarantee $150 million won’t build us a 12,000 seat facility.

Here are my cost estimates (based on the South DaCola Sioux Falls entertaintment facility calculator, where you basically take everything your told by politicians and take that times two)

• New EC: $180 million

• Arena upgrades: $10 million

• Convention Center upgrades and expansion: $20 million

• New Howard Wood (which taxpayers will have to foot the bill for one way or another): $26 million (this was a number Darin Daby was throwing around)

• Destruction of HW and Parking: $15 million

TOTAL COST OF PROJECT: $251 MILLION

I will be curious how the Task Force spins these numbers. There was one positive part to the column though;

It also depends on City Council endorsement this fall, permission from the Legislature to raise the city sales tax, then voter approval in November 2010 and two years for construction.

I don’t think it will make it to voter approval, but I was glad to here that is still a part of the plan. We all know our rubber stamp council will approve it, any opportunity to raise our taxes they are front and center.