x
Breaking News
More () »

City of Round Rock approves $21.3M bond sale for convention center, more than $300M for other projects

The bond debt will be repaid through select State and City tax revenues generated by the project, according to the City.

ROUND ROCK, Texas — On Thursday, the City of Round Rock took another step toward transforming the area around Dell Diamond.

The Round Rock Transportation and Economic Development Corporation and the Round Rock City Council approved the sale of a $21.3 million sales tax revenue bond for project costs related to the design and construction of a 200,000-square-foot convention center.

The center will be owned by the City and built next to the Kalahari Resort, which will be responsible for its maintenance and operation costs.

"These bonds will be repaid through revenues generated by the Kalahari project," said Will Hampton, the communications and marketing director for the City of Round Rock.

Hampton said sales tax and hotel occupancy tax from the Kalahari Resort will be used to pay off the convention center debt.

RELATED: 

America's largest indoor waterpark on track to open in 2020 in Round Rock

Construction on America's largest water park, Kalahari Resort, begins in Round Rock

The convention center, which is expected to open in late 2020, will include what is expected to be the largest ballroom in Central Texas, the Kilimanjaro Ballroom.

RELATED: 

Round Rock opens first boutique hotel

Round Rock Express hosting 2021 Triple-A All-Star game for first time ever

This is the first of two planned sales tax revenue bond issues to fund $40 million in net proceeds to construct the facility. The second issue is planned for April 2020.

Also on Thursday, the Round Rock City Council approved a resolution authorizing the adoption of a five-year fund allocation of $304.4 million for planned transportation and economic development projects.

"Roads like Gattis School Road, Kenney Fort Boulevard, University Boulevard on the north end of town," Hampston said.

Hampton said Kenney Fort Boulevard, for example, will be extended from Forest Creek Drive to Highway 45. That is supposed to help with traffic once Kalahari opens.

WATCH: America's largest indoor waterpark set to open in Round Rock in 2020

PEOPLE ARE ALSO READING:

Video: Fight breaks out on busy street after Round Rock road rage incident

Trash pile fire sends smoke plume into the air in South Austin

Man found shot in southeast Austin was trying to rob drug dealer, police say

Proposed new Austin homeless shelter sparks debate among nearby homeowners

Before You Leave, Check This Out