Riverfront visit

[southernindianaballer]

Do me a quick favor. Draw out some simple math for me and post it. I want to see how Terre Haute gets any ROI within 50 years once you add in the bonds and interest payments.

I'm not sure any of us know exactly what the final funding mechanism may look like with all the parties involved... TH, Vigo, CVB, and now private partners... along with new taxes... but the mechanism looks pretty close to another that was for 130 million and is scheduled for pay off in 2038. We are talking about a small fraction of that project cost.

Now, you guys bring up the casino/gaming option which is seeking approval... well, well, well... the perfect storm is brewing, eh? Casino, Convention, and football in downtown riverfront area.. That's a good plan... 5000-12000 people 7 times a year near the casino... the ROI is obviously waiting to happen. Heck, put ice hockey in the facility next to a casino and you have something that will fly... I tell you college students would love ice hockey! You know football would book about 10% of the Saturdays for a year - hard to say No to that if you have a facility.
Looks like the facility is going up... the large floor space is a requirement so just modify it to add telescoping chair back seating and have ISU provide the turf.
:lol:

 

[Jason Svoboda]

I'm not sure any of us know exactly what the final funding mechanism may look like with all the parties involved... TH, Vigo, CVB, and now private partners... along with new taxes... but the mechanism looks pretty close to another that was for 130 million and is scheduled for pay off in 2038. We are talking about a small fraction of that project cost.

Now, you guys bring up the casino/gaming option which is seeking approval... well, well, well... the perfect storm is brewing, eh? Casino, Convention, and football in downtown riverfront area.. That's a good plan... 5000-12000 people 7 times a year near the casino... the ROI is obviously waiting to happen. Heck, put ice hockey in the facility next to a casino and you have something that will fly... I tell you college students would love ice hockey! You know football would book about 10% of the Saturdays for a year - hard to say No to that if you have a facility.
Looks like the facility is going up... the large floor space is a requirement so just modify it to add telescoping chair back seating and have ISU provide the turf.
:lol:

 

[Westbadenboy]

I love it when posters on this site make references to things without explaining what the hell they're talking about ......what 130 million dollar project that will payoff in 2038 are you talking about ????

We're not all sitting around a table at the bar ....all on the same page....all knowing what each is talking about ........

So what are you talking about ? ? ? ? ?

 

[Westbadenboy]

Be Clear --- give background

I've posted this many times before --- we all do not live in Terre Haute. Don't all read the Tribune.......don't all watch WTHI.

We're scattered across the state and the nation ................make your posts clear....give background when needed.

Thank you

 

[SycamoreStateofMind]

I love it when posters on this site make references to things without explaining what the hell they're talking about ......what 130 million dollar project that will payoff in 2038 are you talking about ????

We're not all sitting around a table at the bar ....all on the same page....all knowing what each is talking about ........

So what are you talking about ? ? ? ? ?

I wish we were sitting around the table at the bar...

 

[southernindianaballer]

I've posted this many times before --- we all do not live in Terre Haute. Don't all read the Tribune.......don't all watch WTHI.

We're scattered across the state and the nation ................make your posts clear....give background when needed.

Thank you

No problem... Ford Center is 130 million
Looks similar with tax utilization, etc. But, it looks like they did research a while back and it looks like typical funding model to me at this point. Don't see anything alarming. Unless it's a bust and fails. Then that's an issue but they should build mechanisms and pu them in place to secure success and put it out for people to see.... You know... best and worse case profit and loss.... actually, they already did that earlier.

 

[Westbadenboy]

Thanks -- although I don't know the details on how the Ford Center is doing overall, I hope they're not depending on SRO crowds for Aces' games.

 

[bent20]

Hautians who don't want to spend an extra 20 cents at Chilis or Real Hacienda are the same ones who complain and say there is nothing to do in Terre Haute lol

Just now saw this post, but in my experience it's not the Hautians who complain (act spoiled) about having "nothing to do" it's the kids coming down from Indy and Chicago to go to school at Indiana State.

 

[southernindianaballer]

Thanks -- although I don't know the details on how the Ford Center is doing overall, I hope they're not depending on SRO crowds for Aces' games.

They have their issues... Seems to be a break even scenario for them. Some years they lose a tad some years they profit a tad... They have endured some unexpected costs with attaching a hotel over a street, etc. The Aces women's bball team pulled which may save them money as they underestimated their rent... costs a lot for labor to change the court before and after a game that they didn't estimate correctly (Ice is under the court for ice hockey).

 

[southernindianaballer]

Now.... Owensboro KY has invested millions and millions and millions on their riverfront and yes the locals complain about the tax hikes.. but they enjoy the riverfront and partake of the activities... That place is simply amazing.. the investment was huge but it is fantastic. BTW - Owensboro is now on the KY Bourbon Trail with O.Z. Tyler Distillery. That convention center is fantastic and it is utilized. Owensboro has literally been transformed in about 7 years. I would even suggest a weekend drive to the riverfront.. check out:

https://cyobrewing.com/

http://www.themillerhouserestaurant.com/ The largest Bourbon Bar in the World

https://oztylerdistillery.com/

https://fridayafter5.com/

http://www.owensborocenter.com/

Everyone should see this video.... on this site.... http://owensboro.com/

http://www.owensboro.org/

https://vimeo.com/246183267

https://www.youtube.com/watch?v=NRjVU5hc08U

 

[SycamoreStateofMind]

I talked to someone that would know what is going on yesterday and he said that a Football Stadium / Convention Center joint facility is not in the works and hasn't been discussed.

They have 3 potential locations picked out for the convention center. Perhaps a new hotel and parking garage could be part of the package...

 

[Bluethunder]

I talked to someone that would know what is going on yesterday and he said that a Football Stadium / Convention Center joint facility is not in the works and hasn't been discussed.

They have 3 potential locations picked out for the convention center. Perhaps a new hotel and parking garage could be part of the package...

Did he/she/they happen to know the location of the three potential sites?

 

[SycamoreinTexas]

Now.... Owensboro KY has invested millions and millions and millions on their riverfront and yes the locals complain about the tax hikes.. but they enjoy the riverfront and partake of the activities... That place is simply amazing.. the investment was huge but it is fantastic. BTW - Owensboro is now on the KY Bourbon Trail with O.Z. Tyler Distillery. That convention center is fantastic and it is utilized. Owensboro has literally been transformed in about 7 years. I would even suggest a weekend drive to the riverfront.. check out:

https://cyobrewing.com/

http://www.themillerhouserestaurant.com/ The largest Bourbon Bar in the World

https://oztylerdistillery.com/

https://fridayafter5.com/

http://www.owensborocenter.com/

Everyone should see this video.... on this site.... http://owensboro.com/

http://www.owensboro.org/

https://vimeo.com/246183267

https://www.youtube.com/watch?v=NRjVU5hc08U

MOONLITE BBQ AND THE BIG DIPPER BURGERS!!!

 

[SycamoreinTexas]

Just now saw this post, but in my experience it's not the Hautians who complain (act spoiled) about having "nothing to do" it's the kids coming down from Indy and Chicago to go to school at Indiana State.

Partly...But I knew lots of kids when I went to school there always bitching about nothing to do in TH

 

[Sycamore Proud]

Partly...But I knew lots of kids when I went to school there always bitching about nothing to do in TH

It seems this is a common complaint by youth during their high school years.

 

[IndyTreeFan]

Partly...But I knew lots of kids when I went to school there always bitching about nothing to do in TH

When I was young, kids in Sullivan wanted to come to Terre Haute for something to do. Kids in Terre Haute wanted to go to Indy. Kids in Indy wanted to go to Chicago. I think it’s pretty normal for youth to be bored in their hometown.

 

[niklz62]

There’s never anything for kids to do anywhere. Why can they just drink beer and smoke week like normal kids.

 

[SycamoreStateofMind]

Did he/she/they happen to know the location of the three potential sites?

Didn’t but my guess is 1 or 2 sites on the river. 1 or 2 sites downtown. Perhaps a site out east with the hope of a casino to follow at some point in time... I wouldn’t rule that out.

Convention Center.

Gibson owned hotel or two.

Parking garage.

A casino soon after - wouldn’t rule this out. What’s hilarious is we have a better chance or this happening than a new football stadium.

Our best chance for an on campus football facility was a joint facility when the new track was built... But people were concussed.

 

[southernindianaballer]

I talked to someone that would know what is going on yesterday and he said that a Football Stadium / Convention Center joint facility is not in the works and hasn't been discussed.

They have 3 potential locations picked out for the convention center. Perhaps a new hotel and parking garage could be part of the package...

I don't doubt that what your contact said is valid at this time for him/her. Good stuff. Hope we have progress.

 

[southernindianaballer]

Just some info to ponder:

Grand Forks, ND - same population as TH, TH metro area much larger.
University of North Dakota - same population as ISU

Grand Forks has the Alerus Conference Center with indoor football stadium for UND. Seems to be working well. Boasting some things which may be overkill for TH?
160,000 sq. ft. of convention and trade show space.
20,000 sq. ft. pre-function hallway.
12 individual meeting rooms ranging from 600-1300 sq. ft. for a total of 11,000 sq. ft.
Extravagant 30,000 sq. ft. ballroom with 22 feet of ceiling height, divisible into 5 smaller, contiguous ballrooms for a more intimate setting.
100,000 sq. ft. trade show floor with state-of-the-art acoustical design.
Full-service kitchen and full-time chef preparing culinary creations for a top-quality dining and catering experience.

http://www.aleruscenter.com/

This is pretty extravagant - cost reductions are available.