Lincoln Arena Stalls

Officials in Lincoln, Neb., have delayed a public vote to fund a planned arena project in the city in light of current economic conditions.

The development, which would house the University of Nebraska’s men’s and women’s basketball teams in the city’s downtown Haymarket area, was expected to come with a reported price tag of $250 million.

Without securing financing for the project this year, officials are watching the timeline for the arena project grow longer and longer, and some have begun floating alternative ideas.

The University of Nebraska, which partnered with the city for the project, currently uses the aging Bob Devaney Sports Center to house sports programs and events.

If the university chooses to repair the center, the costs could reportedly total $10 million, but it could be $20 million to really bring the venue up to speed, officials said.