Council backs agreement to limit arena losses

Posted on April 23, 2019
arena
Bloomington aldermen voted 8-1 Monday night for an agreement in which management firm VenuWorks agrees to limit taxpayer losses for the government-owned Grossinger Motors Arena. (Grossinger Motors Arena photo)

 

By Howard Packowitz

BLOOMINGTON – Bloomington aldermen, tired of owning a downtown arena that’s hemorrhaging taxpayer dollars, took action Monday night aimed at reducing those losses.

Aldermen voted 8-1 amending the city’s agreement with VenuWorks in which the firm managing Grossinger Motors Arena will assume some of the risk when losses exceed $350,000.

The deal comes seven months after VenuWorks Executive Director Lynn Cannon told the council a best-case scenario is for the indoor venue to lose $500,000 a year.

Alderman Scott Black voted no, saying he wants more dramatic deficit reduction.

City Manager Tim Gleason said the new deal with VenuWorks is a step in the right direction.

“We have a five year agreement with VenuWorks. We’re at the point to where we have two years and remaining. (We’re) definitely not satisfied,” said Gleason.

“VenuWorks is very much a partner and believe we’ve got opportunities,” Gleason added.

Those opportunities include increased flexibility to schedule weekend events with the departure of the arena’s hockey team, the Central Illinois Flying Aces.

The city will also collect more for parking when events are expected to attract more than 500 people. The government will get $1.50 for each parked car, instead of 50 cents.

The city is paying VenuWorks $114,000 a year to manage the arena.

Howard Packowitz can be reached at [email protected]

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