By: Diane Benjamin
I just finished reading all 124 pages of the Coliseum Contract. Management Agreement CIAM
Only around the first 35 pertain to CIAM’s management, the rest are naming rights contracts, a pre-opening agreement, and some miscellaneous this and that.
I did find one very interesting page. Below is the projected INCOME for the first 3 years: (click to make it bigger)
In 2012, Total Revenue was $3,728,185. http://www.cityblm.org/Modules/ShowDocument.aspx?documentid=4650
In 2013, Total Revenue was $3,562,252. http://www.cityblm.org/Modules/ShowDocument.aspx?documentid=6077
In 2014, Total Revenue was $3,864,740. http://www.cityblm.org/Modules/ShowDocument.aspx?documentid=7481
The reports for previous years are not on the City website, but these 3 years are far short of projected revenue of around $5,500,000 per year.
Salaries were projected around $1,000,000 per year. Here is the actual figures:
2012 $1,654,957
2013 $1,508,635
2014 $1,677,064
So even with revenues well below projections, salaries are well over projections.
Markowitz also predicted the Coliseum would never cost taxpayers a cent.
Remember that during the presentations to the Council tonight.
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wow. interesting. How far off are they in the food and beverage numbers from what I see in your story?
A LOT! Around $600,000 – from memory.
But, the boutique hotel will eliminate the need for subsidizing the Coliseum, says the Mayor.
Just remember Tari’s words on the Zoo: People will flock in from all over the country to see the Flamingos! It was a lie then and with the hotel its the same lie all over.
THIS was the beginning of a scary TREND! Overhyped projections (by over paid and unneeded consultants) and hyper salaries and revenue WAY UNDER the expected projections! ANYONE see a trend here? Bike paths, flamingoes, UPTOWN, downtown hotel, TAX INCREASES, kinda scary-and JUST in time for Halloween. At least ALL the kids want is candy, they want OUR money and trust, and deserve NEITHER.