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The price tag for the Pinnacle Bank Arena and surrounding development is going up again. The West Haymarket JPA voted Tuesday to raise the overall budget to just under 346 million dollars. City Finance Director Steve Hubka says about 90 percent of the project has been bid-out. The original budget adopted in 2010 called for an overall cost of 340 million dollars. Hubka says the cost increase has been offset by new revenue opportunities.
The overall contigency fund is still at more than 9 million dollars. Hubka says the budget increases have been off-set to new revenue opportunities. Hubka says very little of the contingency fund has been spent at this time.