By Howard Packowitz
BLOOMINGTON – The city government-owned downtown Bloomington sports arena lost hundreds of thousands of dollars during the last fiscal year, but losses were slightly less than the previous year.
The annual report from VenuWorks, the firm managing Grossinger Motors Arena for the past two years, will probably not quiet arena critics.
The arena’s operating losses were $665,099 for the fiscal year ending April 30. Previous year’s losses were at $673,000 according to Executive Director Lynn Cannon.
VenuWorks cited lower-than-expected attendance, which weighed on facility fee income and food and beverage sales. Suite, club, and sponsorship revenues were almost $329,000 below budget projections.
The arena lost hockey home dates to upgrade dasher boards and glass surrounding the ice rink. The arena football team’s league affiliation dispute led to postponement of the spring schedule.
The report noted VenuWorks cut full-time staff from 12 to eight.
The grim financial picture follows a fiscal year in which the city council last December voted to spend $375,000 to keep a positive cash flow. The council in April replaced leaky pipes in the ice-making system at a cost of $290,875.
The report also comes as new Bloomington City Manager Tim Gleason pledges to look at arena operations and come up with long-term solutions.
Total attendance for the 224 arena events was 116,179, and the Bloomington-Normal Area Convention and Visitors Bureau said the venue produced an economic impact of $9 million for the fiscal year and more than $160 million since the arena opened 12 years ago.
The annual financial report is on the agenda for the city council’s committee of the whole meeting Monday night.
Howard Packowitz can be reached at howard.packowitz@cumulus.com
