Is Coliseum director Matt Brown serious? Does he think that another bond for War Memorial Auditorium will pass? (coverage from Allen Johnson, Greensboro Politics)
I don't think so, not in these tender economic times. He's crazy.
If anything, the discussion needs to begin about selling this dinosaur...and fast. The Coliseum Complex is an asset to the city, and with the right fixes and the right venture to run stadiums and theaters, it can be an even better asset to the city.
Sell it and privatize it, explore naming rights, if necessary. The city is not in the business of running stadiums, the city is in the business of nurturing (and retaining) both its residents and businesses. Unfortunately, wasting taxpayer money, such as the Coliseum does so well, does not help nurture nor retain residents and businesses.
I support Bill Knight's original proposal:
Who can argue with that?
Make the booking of a greater number of events a top priority for the coliseum staff. As it now stands (2007 fiscal year), coliseum parking revenue exceeds its direct events revenue. Further, the coliseum’s bottom line loss (excluding bond repayment) is greater than its top line direct event revenue. We pay 1.6 million dollars annually to park at the coliseum and another 2 million dollars to subsidize the loss. Let’s stop glossing over the fact the coliseum loses money. It is a great asset for the city, but only if it shows better financial results than has been the case for the past fifteen years. Its cumulative operating losses since the early nineties approach $30 million dollars.
By the way, whatever happened to the plans a long time ago for an Opera House and Performing Arts Center originally planned for downtown?
E.C. :)
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1 comment:
Who would buy it? It is a white elephant. BB
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