Mayor Don Groesser broke a 3-3 City Council tie on a funding resolution Tuesday in favor of initially redirecting $500,000 from the current keno proceeds fund of about $1.8 million. City Attorney Mark Klinker says arena officials will be able to draw on the $500,000 as needed and pay back the money.
The arena has failed to meet revenue projections. In the fiscal year ending Sept. 30, 2015, the arena lost $2.5 million on combined operations and debt service — $300,000 more than the previous year’s loss. The most recent fiscal year results have not been released yet.