The City of Irving received another favorable decision in moving this important project forward. In a ruling today, the judge approved the funding structure for the Entertainment Venue as proposed by the City of Irving. “The court supported the city’s strategy for funding the costs of planning, designing, constructing and equipping the project,” said Mayor Herbert A. Gears. “This is the second court decision affirming our plans to finance this exciting addition to our community.”
The designs and construction plans are ready for council’s consideration and the developer has secured guaranteed construction price from the general contractor. This is a construction-ready project that is scheduled to begin when additional financing is secured. This project is funded by partners in the entertainment venue as well as the hotel occupancy tax collected from visitors, not by Irving homeowners or property tax.
The courts have continued to affirm the funding structure put in place for the Entertainment Venue and the city looks forward to breaking ground on this exciting project.
