Coliseum: The rest of the story

By:  Diane Benjamin

Today the bird-cage liner did two stories on the Coliseum.  Extensive renovations are happening right now.  Concession sales is the major focus.  Did CIAM have long waiting lines when they managed?  If they did, I never heard it.

But a statement by the new manager left something out.  He is quoted saying “We’re going to come to the table with quite a bit of money to help do this”.

The article doesn’t say where that “quite a bit of money” came from.

Page 2:  http://www.cityblm.org/Modules/ShowDocument.aspx?documentid=10721

vwVenuWorks lent the money to the City so the City could pay for the improvements.  VenuWorks will be keeping the profits until $750,000 is repaid.

Meanwhile, taxes were raised to fix the roads.

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Comments

  1. I would like to keep the profits on $6 beers and $4 popcorn or whatever outrageous prices are charged. The bumbling idiots at city hall lets the taxpayers be scammed again. My gawd, these people are fools and should NEVER, EVER be running any business ventures.

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  2. The Coliseum is a run down slum right now because the city didn’t bother to oversee their investment. The money for the mess Butler left behind is not in the current budge, hense the need for a loan. Wait til FY 2018 to see the additional costs for improvements. There will not be financial a turn-around for quite some time.

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    • The taxpayers are so far in the hole on this venture it isn’t even funny. All the years that it failed to turn any profit are ridiculous.
      Why they couldn’t resurrect Elvis and John Wayne fast enough to turn a profit. When that happens then maybe they finally will.
      I wish them the best but I just don’t think it will happen. Just the location is a big turn off for most people and not to mention the hassle to park.
      Yip the first big mistake was building in the downtown area. No doubt about that.

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