Superior Court Judge Danny Craig signed off on a $15.2 million bond sale during a Monday court hearing.
Sale of the bonds will allow the Augusta-Richmond County Coliseum Authority to continue its preliminary steps in building a new James Brown Arena.
The hearing is a legal requirement for the intergovernmental agreement to issue bonds.
MORE: Coliseum Authority Taking Final Steps on the Bond Referendum
“We’ll file the judge’s order; we’ll get a certified copy from the clerk’s office. The bond counsel will review that and send us the bond. We sign the bond and deliver it to the bank that’s agreed to purchase it, SouthState Bank,” said J. Edward Enoch, the coliseum authority’s attorney.
The new arena, which will seat 10,000 people, has a projected cost of $228 million. In March, Richmond County voters approved a special local-option sales tax which included $25 million for the entertainment complex. Those funds will be available in early 2022.
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Money from the bonds will be used for continuing work with the architects and to find builders, contractors and other necessary workers ahead of demolition, which will begin in February 2022. Early estimates project the facility will be completed by September 2024.
Perkins & Will is the architect for the project, and H.J. Russell and Company’s Russell S.P.A.C.E. Venues Group will provide program management, construction and development for the project.
In addition to a new event venue, the plan will include a covered walkway to connect the space to the Bell Auditorium. A few upgrades are also planned for the Bell, which was constructed in 1940.
MORE: Schematic Design Unveiled for Proposed New James Brown Arena
An additional bond referendum is scheduled for the Nov. 2 general election.
The Augusta Futurity, scheduled for Jan. 15-22, 2022, could be the last major event in the old arena.
To view the plan and the artist’s rendering, visit https://newjamesbrownarena.com/
Dana Lynn McIntyre is a Staff Reporter with The Augusta Press. You can reach her at dana@theaugustapress.com.
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