LUBBOCK, Texas – Lubbock County Commissioners unanimously approved a development agreement for the proposed Lubbock County Expo Center Thursday.
Lubbock County voters approved the construction of the $50 million expo center in the November 2018 general election.
The agreement gives full ownership of the expo center to the county, a budget structure, and a construction timeline that hopes to bring the ABC Rodeo back to Lubbock in 2021.
“A lot of what was done a year ago was putting the cart before the horse,” said Lubbock County Judge Curtis Parrish. “What we’ve done today is put that horse back in front of the cart, the horse being financing.”
County officials also emphasized that the hotel occupancy tax and the short-term car rental tax that the county began collecting in July will be the only source of tax revenue used to fund the project.
“No dime will come from property taxes,” said Parrish.
The agreement also gives oversight of the expo center’s Executive Committee to Lubbock County.
“We’ll be acquiring a track of land at the corner of North University Avenue and North Loop 289,” said Randy Jordan, chair of the committee.
Lubbock County can begin selling bonds next year. Construction of the project is expected to take 18 months.
