By: Diane Benjamin
The Bloomington City Council has until April 1st to fire VenuWorks: PDF page 2 http://www.cityblm.org/Home/ShowDocument?id=10901
The Coliseum (Grossinger Motors Arena) continues to fleece taxpayers. The audited loss for last year was $2,168,534. https://blnnews.com/2018/11/18/the-media-wont-report-this/
Taxpayers were deceived by the consultants before it was built – against the wishes of citizens. They predicted revenues of $7,000,000 a year and gross profit of $2,319,000 – more than enough to pay the construction bonds. https://blnnews.com/2017/12/20/city-should-have-sued-their-consultants/
Both numbers have always been MILLIONS off. Former mayor Judy Markowitz claimed it would never cost you a cent.
Is the City going to wait to shut it down until the losses equal construction costs?
Two different management companies have tried, both have failed. Both have had prosecutions for theft, the big ones might be resolved in our lifetime.
The bonds are being paid through higher sales taxes, there is no need to keep the doors open and steal even more money from taxpayers to support this failed endeavor.
The only event reports from VenuWorks since July are very low attended hockey games: http://www.cityblm.org/government/advanced-components/documents/-folder-1612
This council has the chance to start fixing what these people did: