A 15-year, $2 million bond issue is expected to be necessary to help finance upgrades to the All Seasons Arena.
The Minot City Council voted Wednesday to pass an ordinance on first reading that would establish the authority for the city to bond for the renovation project. The All Seasons Arena is part of the State Fair Center on the North Dakota State Fairgrounds.
Revenue from the city's lodging tax would be used to pay off a bond, acting city manager Cindy Hemphill said. If not sufficient, additional revenue would come from the All Seasons Arena budget.
The ordinance simply allows for bonding. The details would be outlined in an agreement with the State Fair that is expected to be drafted for council consideration in October, Hemphill said.
The improvements include upgrades to lights in arenas I and II, to boilers in Arena I, to air conditioning in Arena I and also work on Coco restaurant and Arena I locker rooms. Total cost is estimated at just under $2.2 million.
Asked about a maintenance fund that exists for the All Season Arena, Hemphill said the fund doesn't have adequate money at this time for the project due to a large expenditure on the ice system.
The council also approved a street lighting district in downtown Minot from Broadway to Third Street and from Burdick Expressway to First Avenue North. Costs would be assessed to property owners. The preliminary cost estimate is about $2 million. No one appeared at Wednesday's public hearing, but one written protest was received, which was insufficient to stop the project.
The council voted to re-advertise for bids to create an urban street from a two-lane rural section roadway on Main Street South between 31st and 33rd Avenues Southwest. The first advertisement generated no bids.