â€¢ There will be no new taxes or increased taxes to pay for the new Events Center project.
Nope. Just the shifting of fees from the 2nd penny into rates, which continue to be increased, EVEN before this project is approved.
â€¢Â The City of Sioux Falls plans to provide the down payment.
From where? Reserves? Aren’t reserves for emergencies like backed up sewers?
â€¢ Private funding will also be raised, through naming rights, sponsorships and donations. The City of Sioux Falls estimates this to be between 15 and 25 percent.
Less then 3 months away from the vote, and we have yet to see one single sponsorship. Shouldn’t this be secured before the vote happens?
â€¢ A significant portion of this project will be funded by Sioux Falls sales tax bonds, and the Events Center project will be included in the city’s five-year Capital Improvement Program (CIP).
Try THE ENTIRE PORTION will be funded by bonds.
They also like to spread this rumor;
â€¢ Multiple reports in the past 10 years, including the most recent study performed, have indicated the direct and indirect economic impact of an Events Center in Sioux Falls to be around $50,000,000 million dollars annually.
And where will people be spending that $50 million a year in our community? Flying into our international airport, staying at our many luxurious hotels or eating at one of our fine dining establishments by the Arena?
UPDATE: Looks like the CVB is going to do a little ‘spreading’ of their own;