I really admire the citizens of Nebraska for supporting a project such as this. I'm not sure all 344 million will be dedicated to the new arena, but it should be a significant chunk. The Qwest Center in Omaha was 291 million when it opened in 2003. Lincoln is a good deal bigger than Norman so I wouldn't want to equate the two cities, but it would be nice if Normanites could make a similar commitment.
I'm just surprised that they would agree to make such a commitment in the current economic climate (Although I hear Nebraska was nearly recession proof). And considering that most major acts other than the bball teams will play Omaha over Lincoln, I'm not sure what sort of return the citizens of Lincoln expect to derive from the new arena.
I know that the LNC has been renovated since '75, but the Devaney center was built in '76. I'm guessing the arms race will eventually make the LNC a casualty, but I hope it's sooner rather than later.