Intrust Bank Arena, Coliseum have millions in reserve

Intrust Bank Arena
Intrust Bank Arena The Wichita Eagle

Intrust Bank Arena and the Kansas Coliseum pavilions have an operating and maintenance reserve fund of $13.9 million, an oversight committee's report says.

The citizens committee gave its final report to Sedgwick County commissioners Wednesday. The committee was set up to ensure a 30-month, 1 percent sales tax was spent only on building the arena, refurbishing the pavilions and establishing the reserve fund.

That tax, in effect from July 1, 2005, to Dec. 31, 2007, raised $206.5 million for the project.

That's a little over $1 million more than had been projected. That money has been put in the reserve fund.

"We're fortunate the sales tax came in above what was projected," Commissioner Karl Peterjohn said, "because the costs were higher than expected."

The county had predicted a $184.5 million price tag for the project in 2004. It wound up costing $205.5 million.

Committee chairman Greg Sevier also told the commissioners that the project was expected to have $2.5 million in "indirect costs." Final accounting hasn't been completed.

The indirect costs are for time and work put in by county staff on the project.

A vote by the committee on whether that money should be returned to the county resulted in a tie.

Commissioner Kelly Parks has said he wants the money returned to the county. Wednesday, he said the commission should discuss the topic again.

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