So who pays for what?

So who pays for what?

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Renaisssance Project - cost

Total project

$38.77 million

Slices of the pie

Private loan or equity for the hotel: $13.37 million

Private grants: $2.2 million ($200,000 for the preforming arts pavilion, $2 million for the multipurpose arena)

TIF (tax increment funding): $12 million ($4.2 million for the hotel, $1.2 million for the conference center, $2.5 million for the skywalk, $4.1 million for the multipurpose arena)

Iowa Reinvestment Act: $9.5 million ($1.8 million for the conference center, $1.5 million for the museum, $1.45 million for the performing arts pavilion, $4.75 million for the multipurpose arena)

Cerro Gordo County: $500,000 for the multipurpose arena

Local option sales tax: $1.2 million for the multipurpose arena

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