Sioux Falls Looks to Refinance Two Major Projects

City aims to save $6.2 million by merging bonds for Premier Center and City Center

Apr. 7, 2026 at 4:36pm

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A geometric abstract illustration featuring overlapping triangles and rectangles in shades of blue, red, and yellow, conceptually representing the consolidation of municipal bonds and debt refinancing.Sioux Falls' strategic bond refinancing will consolidate debt and free up millions for other civic investments.Sioux Falls Today

The city of Sioux Falls, South Dakota is seeking to refinance two major municipal bonds totaling over $70 million in order to save an estimated $6.2 million and pay off the debt one year earlier than originally scheduled. The bonds were used to finance construction of the Denny Sanford Premier Center arena and the City Center development.

Why it matters

Refinancing these large municipal bonds could provide significant budget relief for the city of Sioux Falls, allowing them to redirect those savings towards other infrastructure, public services, or economic development priorities. Paying off the debt sooner also reduces the long-term interest costs for taxpayers.

The details

Sioux Falls has two outstanding bonds - one for $56.8 million related to the Denny Sanford Premier Center, and another for $15 million tied to the City Center project. The city is proposing to merge these two bonds into a single new bond, which would allow them to pay off the combined debt one year earlier than the original timelines.

  • The Premier Center bond has a remaining balance of $56.8 million.
  • The City Center bond has a remaining balance of $15 million.
  • The refinancing proposal would merge the two bonds and pay them off one year sooner than expected.

The players

Denny Sanford Premier Center

A multi-purpose indoor arena in Sioux Falls that hosts concerts, sporting events, and other entertainment.

City Center

A major mixed-use development project in downtown Sioux Falls that includes commercial, residential, and civic spaces.

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What’s next

The Sioux Falls City Council will vote on the refinancing proposal at an upcoming meeting. If approved, the city expects to complete the bond merger and begin realizing the $6.2 million in savings.

The takeaway

By proactively refinancing its municipal debt, Sioux Falls is demonstrating fiscal responsibility and a commitment to maximizing taxpayer value. This move will free up funds that can be reinvested into other important community priorities and infrastructure needs.