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Cross Insurance Center remains enterprise fund; council briefed on debt service, capital plan and downtown TIF support
Summary
City staff presented the Cross Insurance Center’s finances and capital needs, noting the facility’s operation is supported by downtown TIF funds and an arena fund (gaming revenues). The center’s operating costs are personnel‑heavy and debt service for the arena accounts for a significant share of expenses.
City staff told the council Wednesday that the Cross Insurance Center (arena/convention facility) operates as an enterprise fund and continues to require outside support for debt service and capital needs.
Staff said the arena’s operating budget is personnel‑intensive and that debt service comprises a large share of the facility’s overall cost. The city uses two mechanisms to support the debt: transfers from the downtown tax‑increment financing (TIF) district…
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