Ball Ventures donates Event Center parcel
UPDATE: 10-12
The Idaho Falls Auditorium District has formally accepted a 22-acre land donation to house a new Event Center within Snake River Landing. The donation fulfills a commitment made by Ball Ventures’ Snake River Landing in 2009.
In addition to the donation, construction will begin later this month on Event Center Drive. The 5-lane street will provide the main access to the new facility.
“Ball Ventures and Snake River Landing have worked side-by-side with the Idaho Falls Auditorium District in the planning and preparation of the site and required infrastructure,” says Eric Isom, Chief Development Officer of Snake River Landing. “The completion of the land donation and the construction of Event Center Drive are the culmination of a lot of hard work by the many people involved, and show the Idaho Falls Auditorium District’s ongoing commitment to make continued progress toward completion of this wonderful project.”
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ORIGINAL STORY:
Financial advisors told the Idaho Falls Auditorium District Tuesday they are confident construction of a new Event Center can move forward.
District executive director Brian “Chip” Scott said efforts to raise private donations, naming rights and other financing would get underway within the next couple of weeks.
At the same time, he says the district is fine-tuning design and management agreements. Kevin Dekold of CRSA is the project architect.
“We know the community has been waiting,” said Scott, “but this thing is going to become a reality.”
The estimated cost of the facility is currently estimated at around $58 million, but the tariff-related costs of steel could play a major part in that projection. In any case, Scott said the district has about $10 million in district funding on hand and projects another $10 million can be raised through fundraising. Financial advisors told the board of directors Tuesday they are very confident of finding revenue bonding in the private sector to pay the remaining construction cost.
Scott said local taxpayers can be assured their only responsibility will be to buy tickets and hot dogs at upcoming events.
Some work on the event center site in Snake River Landing is already underway, including improvements to “Event Center Drive.” Site excavation work is expected to begin soon.
