Financing Plans For Convention Center Move Forward

Posted By: Jade
March 14, 2019 @ 6:30 am
Local News

<![CDATA[TERRE HAUTE, Ind. – The Vigo County Capital Improvement Board moved the downtown convention center project forward by finalizing financing plans.
Both the City of Terre Haute and Vigo County have each pledged $10 million towards the project.
The Vigo County Convention and Visitor's Bureau pledged another $5 million.
On Wednesday the Terre Haute Redevelopment Commission pledged to add $3 million to the project that will come from downtown tax increment financing (TIF) money.
All organizations have now entered into a written inter-local agreement and allows the CIB to pursue bonding.
The project's costs have escalated to just over $32 million.
The city council, county council, and visitor's bureau board must approve their contributions.
Board president Jon Marvel said the CIB's request will go before a county council committee in April and the entire council in May.
Construction could start as soon as this summer.

Proposed downtown convention center Interior with stairs leading to second level meeting space and offices

Proposed downtown convention center Exterior overhead view of the project block. 7th St. left, Wabash Ave bottom, 9th St right, Cherry St top.

Proposed downtown convention center Interior with ball room entrance on left

Proposed downtown convention center Parking garage on left looking south at convention center ahead

Proposed downtown convention center Exterior of convention center parking garage

Proposed downtown convention center ballroom

Proposed downtown convention center Interior floor plan with meeting space highlighted on right

Proposed downtown convention center Interior floor plan. Center is main ball room with kitchen area to the left and top

Proposed downtown convention center Exterior area between convention center and Copper Bar

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