By: Diane Benjamin
Of course a feasibility study was done before the Coliseum was built. It predicted Revenue of $7.1 million and expenses of $4.8 million. Operations would easily cover the cost of building it. https://blnnews.com/2016/02/11/the-tale-of-the-coliseum-tari-a-hotel/
At last night’s Committee of the Whole meeting, VenuWorks stated the arena would never lose LESS than $500,000.
Any public official who trusts a feasibility study shouldn’t be in office.
The Council is just fine with the losses, they have no intention of shutting this tax dollar sucker down. They do want real economic impact numbers however. Bring in the college kids to figure it out.
A downtown hotel is in your future!
The Grossinger Motors Arena manager repeated numerous times they are looking to book extended events – probably sports – over a long weekend. People will travel here, and of course they need a hotel across the street.
Eminent domain will be next. Maybe they are looking at a combination bus transfer station and hotel! Normal has a combo with a parking garage.
The Council skipped the Pledge of Allegiance. Maybe if they had they would have noticed the “and to the Republic” line. No democracy (mob rule) mentioned. Elections matter, just not once most are elected. Campaigning and serving are two separate issues.
Hit play to hear Gary Lambert’s public comments, the VenuWorks presentation and discussion follows. More on the rest of the meeting later
What? The “Markoarena” will NEVER make money. Well that’s news!! Just like Green Top being $2.5 Million in debt and NEEDING $300,000 this fall to keep the doors open. Where do these lame brain managers, mayors AND council people come from that THINK they can make money on things that will OBVIOUSLY loose money???
Let’s have a study done..
$2.5 mil and $300K! It’s re-mark-owitzable! Get it? Markowitz—able? Lol. It’s the new, every big project the mayor(s) fund is a failure!
Taxpayers in Peoria just lost 7 million dollar investment on a downtown hotel. Peoria is larger than Bloomington has the Civic Center, Riverfront, Gambling and much more and still lost money.
The progressives in Bloomington city leadership know a downtown hotel will lose money. They don’t care. They will simply tout bogus economic impact numbers.
Why weren’t the following questions asked of Venue Works or discussed by Council?
1. Referring to the Pie Chart on page 23 of Venue Works Report…What is the actual number of tickets sold not the percentage?
“Outside of McLean County”…Peoria, Springfield, Champaign…all within 1-hour drive…not likely new visitors. Champaign now has a brand new slightly larger arena to compete with Bloomington’s.
2. Why is Venue Works using the total number of attendees to calculate the Economic Impact when 50% of the attendance is due to non-ticketed community events?
3. What are the scheduled building updates over the next 5 years and the estimated cost of those updates?
4. What is the projected depreciation?
5. What is the annual Bond payment for the Arena and when is the debt expected to be retired?
6. Should we be looking at new management?
7. Should we attempt to market the property?
8. Should the doors be closed to save operating expenses?
Very good list! File it away somewhere so you have it handy in five years when we’re talking about the ‘sports complex’.
The thing that makes me absolutely ill is that when Judy Markowitz comes back to town, she is treated like a “Senior Statesman” and a princess, when, in fact, anybody who remembers her–way back to her pre-Mayor days, knows she is a overbearing, grand standing harpy. Given the hundreds of dollars she cost EVERY Bloomington taxpayer by her stupidity and inability to listen to citizens (who voted AGAINST the Colosseum disaster), she should be consistently greeted with hatred and contempt.
I see King Tari is cutting the “unnecessary” Pledge of Allegiance out. Next up we will get to hear the “Pledge of Allegiance to King Tari” All HAIL KING TARI! Cutting the Pledge signals to American citizens of Bloomington that King Tari and his court jesters couldn’t give a fig about America or Americans. As long as the illegals are happy and BLM stays in charge & the people pay taxes to hell with the Pledge.
the albatross : better known as the Coliseum is the focal point for Tari . Since its the “right fit” for downtown along with a hotel/conference center , bus station and flowers (not to mention vagrants, and crooks) Tari will never sell this worthless venue. From the moment it was conceived in the warped mind of Judy Markowitz it has been a disaster and will never be anything but a financial hell hole!