SBJ/December 1 - 7, 2003/Facilities
Gateway Arena anchors Sioux City complex
Published December 1, 2003
Architects’ rendering of Gateway Arena
The new facility, called Gateway Arena, seats 7,200 and features the hardwood floor from the 2003 NCAA Men's Final Four. Sioux City native Kirk Hinrich took the last shot for Kansas in its title game loss to Syracuse on that floor, said Dennis Gann, general manager for Tyson Events Center. He spent $75,000 to buy the surface from Horner Flooring Co.
The older structure included in the project, renovated and now known as Long Lines Family Center, has a capacity of 6,000. Its use is aimed at community-level athletic events. By keeping the older structure intact, the city received $2 million in historic preservation tax credits to help fund the overall construction effort, Gann said.
"Local government was interested in preserving a building with landmark status and made the choice not to tear it down," he said. "For whatever amount of money we [publicly] invest, 20 percent of that total can be considered historic tax credits. The county issues us a check, which also reduces our tax liability.
"The kicker with this arrangement is that the property has to be in the private sector's hands for five years. We sold the credits to a financial institution that will pay us 98 cents on the dollar. The IRS allows major for-profit corporations to do that."
The bank, which Gann did not identify pending completion of the transaction, will contract with Gann's office to manage and rent out Long Lines Family Center during that period.
Tyson Events Center/Gateway Arena
City: Sioux City, Iowa
Tenants: USHL Sioux City Musketeers, NIFL Sioux City Bandits
Owner and operator: City of Sioux City
Architect: Ellerbe Becket, FEH Associates
Construction manager: Mortenson/Klinger
No. of seats: 7,200
No. of club seats/suites: 27/980
Projected cost: $52 million
Funding: $18.5 million from the private sector, including sponsorships and premium-seat sales; $22 million in public money from Vision Iowa fund; balance from local riverboat gambling proceeds, in-kind value of incorporating existing Sioux City Auditorium infrastructure into new construction and historic tax credits
Naming rights: $5.5 million in combined title sponsorships from Tyson Foods (a $4 million lifetime deal) and Gateway computers for the arena and Long Lines telecommunications for the auditorium, both 10-year agreements at $750,000
Concessionaire: Distinctive Gourmet
Pouring rights: Coca-Cola
Seat provider: Irwin Seating Co.
Scoreboard provider: Daktronics
Floor provider: Horner Flooring Co.
Ice provider: Rink-Tec International
First game: Dec. 17, Musketeers vs. Waterloo
TYSON EVENTS CENTER/GATEWAY
|Brown Construction Co.||Interior construction|
|Canfield Business Interiors||Furnishings|
|Chris Hansen Construction||Concrete, stonework, sitework|
|Concrete Specialty Inc.||Parking lot|
|G&L Associates Inc.||Metal|
|Hagan Co.||Plumbing and pipefitting|
|High Tech Electric||Electric|
|Holtze Construction Co.||General construction|
|Institutions Services||Food equipment|
|Interstate Mechanical Co.||Mechanical engineer|
|Lessard Construction||Underground utilities|
|M.J. Dalsin Inc.||Roofing|
|Merrill Iron & Steel||Steel|
|Midwest Partitions Inc.||Drywall|
|Thompson Electric Co.||Utilities|
|Sources: Street & Smith’s SportsBusiness Journal research, Mortenson/Klinger|