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Sedgwick County officials say INTRUST Bank Arena reserve is nearly depleted; staff proposes $2M annual transfer
Summary
County staff reported the INTRUST Bank Arena operating and maintenance reserve has fallen to about $768,000 and recommended a $2 million per year general-fund transfer to sustain capital and emergency repairs; commissioners debated using property tax versus a sales-tax replacement.
Sedgwick County staff told commissioners on Nov. 18 that the INTRUST Bank Arena’s operating and maintenance reserve has dwindled to roughly $768,000, and recommended including a $2 million annual transfer from the county general fund into the arena reserve while longer-term options are considered.
Lindsay, the county’s contract administrator for the arena, reviewed the facility’s financing history and current management contract. County voters approved a sales tax in 2004 that raised about $206.5 million for construction and related costs; after construction and other expenditures, the county initially held roughly $15.5 million in an operating and maintenance…
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