If the revenue is short, who pays?

It was reported in the Nov. 30 Herald that the Everett Historical Commission voted 9-1 to refuse to give the city its blessing to bulldoze two 100-year-old buildings. Commissioner Ed Morrow cast the only dissenting vote, saying among other things, the arena and events center would bring income to the city for years to come and residents aren’t paying a dime.

I hope he’s right. I’m sure the Everett Public Facilities District, the group responsible for operating the facility once it is built, projects revenue to exceed operating costs. However, just in case operating costs exceed revenue, who makes up the difference? The residents from the city coffers? It is my understanding that the residents pay between $300,000 and $400,000 annually to keep the Everett Performing Arts Center afloat.

Having an arena most likely will be good for the city. All I’m asking is that the Public Facilities District confirm that: (a) Everett residents won’t be paying a dime, or (b) Everett residents will have to cover any shortfall if revenue doesn’t cover operating costs.

Everett