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First Events Center Bonds To Be Sold Tuesday

March 12, 2012, 5:18 PM by Karen Sherman

First Events Center Bonds To Be Sold Tuesday
SIOUX FALLS, SD -

Design development for the planned Events Center in Sioux Falls is more than half done, according to the latest update from the city.

The city council got an update on the project during its Informational Meeting Monday afternoon.

Public Works Director Mark Cotter says the goal is to have the design development completed by May so that groundbreaking can take place in August. 

The first bonds for the project will be sold on Tuesday.  Finance Director Tracy Turbak says this first sale will raise more than $100 million for the Events Center.  All of the ones to be sold on Tuesday will be tax-exempt.  The city will hold a second sale of bonds for the project later in the year. 

The city is still working to line up a naming sponsor for the building.  It has scheduled a news conference for Friday, March 16, when process details and timelines will be announced.  The city hopes to have naming rights determined before the August groundbreaking.

There will be another opportunity for the public to learn more about the project this week.  A public open house is scheduled for Thursday, March 15 from 6 to 8 p.m. at Morningside Community Center.

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