Funding Approved For Terre Haute Convention Center

Posted: Updated:
The cost of the Terre Haute Convention Center has risen to $32.5 million. The cost of the Terre Haute Convention Center has risen to $32.5 million.

The Terre Haute Redevelopment Commission has approved a financing agreement for the new downtown convention center. The Tribune Star reports the agreement calls for the city to provide $3 million up front for the facility and $500,000 for 19 years in backup financing if it is unable to meet its obligations.

The project is now estimated to cost $32.5 million, up from the original $25 million estimate. Both the city and Vigo County had previously agreed to pay $10 million each for the project when it was at the previous cost estimate, according to the publication.

"At that time, there were some costs we just couldn't estimate because we didn't know where it was going to be located exactly," said Steve Witt, director of redevelopment for the city, and member of the Capital Improvement Board. "Secondly, the cost of construction has gone up over the last few years."

The interlocal agreement still requires approval from the Terre Haute City Council and Vigo County Council. The Tribune Star reports the financial agreement also calls for the commission to "use its best efforts" to issue $4.5 million in bonds for the construction of a parking garage that will serve two new hotels next to the convention center.

You can read more from the Tribune-Star by clicking here.

  • Perspectives

    • How to Find a New Audience After Hitting a Marketing Plateau

      It may sound like a marketer’s dream scenario: efforts have proven to be so successful it appears a company has completely saturated their target audience. While it may be a good problem to have, it still may be a problem. Hitting a marketing plateau is an opportunity for companies in any industry to reevaluate, re-energize and come to the table with new ideas for better understanding existing customers and engaging new audiences.



Company Name:
Confirm Email:
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections


  • Most Popular Stories

    • (image courtesy of The Times of Northwest Indiana)

      Crews Start Demolition of Carson's in Hammond

      The face of downtown retail in Hammond is changing once again with the demolition of Carson’s department store, the one-time the anchor of Woodmar Mall. Our partners at The Times of Northwest Indiana report excavating crews have started to demolish the last vestige of the shopping center which stood since the 1950s. 

    • Some 'Emerging Ethical Dilemmas' Already Here

      An annual list of emerging ethical dilemmas and policy issues in science and technology has been released by the John J. Reilly Center for Science, Technology, and Values at the University of Notre Dame. It includes robotic clergy, a crime reporting app and facial recognition technology that could read emotions.

    • (image courtesy of The Times of Northwest Indiana)

      U.S. Steel Cuts Jobs, Low Price Imports Partially to Blame

      Pittsburgh-based U.S. Steel has announced it will idle its tin mill operations in East Chicago, affecting nearly 300 workers, half of which will lose their jobs. Our partners at The Times of Northwest Indiana report U.S. Steel blames the layoffs on the Del Monte food company which announced its own mass layoffs. 

    • UPDATE: Nestl√© Details Fort Wayne Layoffs

      Virginia-based Nestlé USA says only 40 employees will be laid off at the company's Fort Wayne distribution center. A spokesperson for Nestlé tells Inside INdiana Business a WARN Notice filed with the state incorrectly stated the facility would close at the end of the year, affecting nearly 70 workers.

    • (Photo courtesy Batesville Tool & Die)

      Batesville Tool & Die Acquires Tipton Company

      Batesville Tool & Die is adding to its portfolio. The metal stamping manufacturer has acquired a majority interest in Tipton-based DC Coaters LLC. Financial terms of the deal are not being disclosed.