Edinburg dribbles to $68M sports facilityEdinburg dribbles to $68M sports facilityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=15592015-03-05T08:42:00Z2015-03-05T06:28:00Z

EDINBURG - The Bert Ogden Arena is underway along Expressway 281 at Alberta Rd. With 8,500 seats, the facility will be the largest in the Rio Grande Valley.

The arena will become the new home of the Rio Grande Valley Vipers.

The $68 million sports and entertainment venue is set to open by October 2016 — almost a year earlier than previous announcements.

Edinburg’s city council in January agreed to use two tax increment reinvestment zones to pay $30 million in bonds to fund the public’s share of the arena’s cost.

Alonzo Cantu, majority owner of the Vipers and the arena’s main developer, will cover the remaining $33 million of the project, Mayor Richard Garcia said Thursday.

Cantu donated the land for the arena to a local government corporation.

The city is partially funding the project with a $30 million bond that will be repaid using two tax increment reinvestment zones that include the new arena, an HEB store and a Walmart.

The arena is expected to create about 150 new jobs, Garcia said.

It will also be available for public use such as school graduations, forums and concerts. Land surrounding the arena will include pad sites for hotels and restaurants.

The Monitor
Public Facilities
http://www.themonitor.com/news/local/ground-broken-on-bert-ogden-arena-new-m-home-for/article_57c3d158-be25-11e4-a453-3712658bb15e.htmlRead more at {Source}

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