As the city of Sioux Falls considers a proposed events center, the first question to answer is how the city will pay for such a building.

Monday night, the city council voted six to two to support the plans for the building that would seat 12,000 people.  But it also comes with a price tag of up to $169 million.  Some of which the city would foot the bill for. Funds it would likely have to borrow, a practice that's common in local government.

It's a lengthy list and you may have to check it twice but the December financial report for the city of Sioux Falls lays out the total debt for the city.

The majority are for public works items that help maintain the quality of life in Sioux Falls.

Of note, the city still owes $31.5 million for the flood control upgrades and has twenty years to pay that back.

The city also owes $19 million for the storm drainage improvements the city approved after flooding damaged homes four years ago.

The city owes another $8.6 million for storm drain improvements that will be paid off by the second penny sales tax.

The city still owes an additional $14 million on the Washington Pavilion and Convention Center and has five more years to pay that back.

But the biggest single debt for the city of Sioux Falls is the Lewis and Clark water project.

The $70 million debt is what Sioux Falls has pre-paid for its share of the water project and has until the year 2036 to repay that amount.

All told, as of this month, the city of Sioux Falls holds a debt of $274,850,611.

That debt may seem large, but the city hasn't spent every dollar approved to borrow. If that were to happen, the total debt of the city would escalate to nearly $330 million.

The money owed on the flood control project could eventually be paid back by the federal government.

Sioux Falls city officials add that if the additional penny sales tax is approved, the city would not have to borrow any money for the project. The tax would generate about $50 million per year, meaning the building would essentially be paid off by the time construction is complete.