Indiana State University has announced $50 Million in renovations to its basketball arena. Picture is provided in what it will look like once done.

Here’s more from Terre Haute Tribune Star:

Indiana State University trustees took the next step in the renovation of Hulman Center today by authorizing university officials to prepare for a bond sale to finance the project.

“We will be in a market ready position in early May, and we anticipate bond ratings in April,” said Diann McKee, ISU senior vice president for finance and administration.

Total proceeds from the bond issue would not exceed $44.2 million; it would include $37.5 million of fee-replaced [state-funded] debt and $6.75 million of debt that would be repaid through university interest income.

 The Indiana Legislature approved a $37.5 million state appropriation for the project, initially intended for a larger project that also involved an adjoining convention center and local partners. In August, ISU withdrew from the convention center project.