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TERRE HAUTE, Ind. (WTHI) - A newly constructed convention center could open in downtown Terre Haute by the summer of 2020. That's according to a preliminary schedule released Tuesday by the Vigo County Capital Improvement Board.

The schedule is included within an agreement between the CIB and Nations Group, which has been retained to oversee the construction of the convention center. The CIB altered the agreement on Tuesday to reflect a reduction in the overall cost of a new convention center. Because it will not include renovations at ISU's Hulman Center, that cut the project cost from $75 million to $25 million.

Both the City of Terre Haute and Vigo County have each pledged $10 million towards construction costs. Those funds will come from their respective EDIT funds. The Terre Haute Convention and Visitor's Bureau will pick up the remaining $5 million. The CVB board has requested the Vigo County Council to raise the county's Innkeeper's Tax rate from 6.5% to 8%. The extra funds will allow the CVB to bond its portion of the convention center project.

A location for the new convention center will be released at a later time.