Events center report presented to city of Bemidji
The city of Bemidji has released the latest financial report done on the events center.
Wayzata-based Conventions, Sports & Leisure has reviewed three potential scenarios for the events center and developed financial projections for each possibility. Scenario One has the city operating both the events center/arena and convention center; Scenario Two has the city operating the arena and a private hotel operating the convention center; and Scenario Three has the city operating both a convention center and multipurpose hall, which would replace the hockey arena.
CSL has projected an annual net operating deficit of $297,000 for Scenario One, $236,000 for Scenario Two, and $222,000 for Scenario Three. All three projections were developed from base cases sub-scenarios; CSL also projected deficits for each scenario in low and high cases.
Watch for a detailed story in Wednesday's Bemidji Pioneer.