Alerus Center reports $225,000 lossThe city-owned Alerus Center in Grand Forks is reporting a $225,000 loss last year.
GRAND FORKS, N.D. (AP) — The city-owned Alerus Center in Grand Forks is reporting a $225,000 loss last year.
VenuWorks, the firm that manages the building for the city, had earlier projected a loss, though the amount was not as high. VenuWorks will have to pay back some of its management fee because of the loss.
Officials say 2009 was a strong year for conventions, but some of the big concerts the center needed to boost its finances did not materialize.
The deficit comes out of a special fund the City Council has set aside for such shortfalls. The Alerus Center could replenish the fund if it makes more this year.