TERRE HAUTE, Ind. (WTHI) - We have new details as the downtown convention center project now has a cap on how much it can cost.
The Vigo County Capital Improvement Board agreed to a guaranteed maximum price.
That is $24,633,000.
That would cover the cost of the building, the convention center, and the parking garage.
The price is good for 90-days.
Now, the board must buy some adjacent property to close on the bonds for the project.
"The bonding companies are not going to loan you the money until you own the property you're going to build the facility," Mayor Duke Benett said.
The board met in an executive session to discuss the properties it needs to buy to build the convention center.
Those purchases could be approved at the board's next meeting, which is September 18.