Planned center delayed
Amid the current financial turmoil, it’s hardly surprising that plans for a much-touted and costly events center along the Colorado River have skidded to a halt, at least for the time being.
In the midst of a credit crunch, obtaining financing for a $35 million facility is understandably difficult, even if promoter Reed Mitchell is able to obtain a loan guarantee from the U.S. Department of Agriculture. But that isn’t the only problem.
A feasibility study that was due out last summer has yet to be completed. Minor-league sports teams that Mitchell hoped would use the 5,000-seat arena have yet to commit to doing so. And, unless construction begins soon, it will be impossible to complete the arena by the end of next year, as required in the agreement Mitchell has for leasing the city’s Jarvis property.
An events center may one day be built on the Jarvis land, but it now looks like that will not occur as soon as many people had hoped.