Greensboro Coliseum seeking $24 million in bonds
Updated: 05/01/2012 09:36 PM
By: Caroline Blair
GREENSBORO -- While it may be the largest single-seat venue in North America, the Greensboro Coliseum has experienced some wear and tear over the years.
"We have to ensure that it is always maintained in a state of the art condition, that it can be and remain competitive to all the other communities with much more newer multimillion dollar facilities," said Greensboro Coliseum Complex Managing Director Matt Brown.
As the ACC welcomes big name schools like Syracuse and Pittsburgh, the coliseum will soon compete with even more venues like Madison Square Garden.
"All those cities and in this case states, would love to have that major preeminent basketball tournament. So we can't we can't fall asleep with the presumption that it's always going to be in our backyard here on Tobacco Road," Brown said.
So the city-run complex is now asking for $24 million in bonds to perform renovations and additions from resurfacing parking lots and replacing roof tops, to updating outdated seats and widening indoor concourses.
"I think last year it was close to $200 million of economic impact on events at the coliseum so we need to continue to stay at have a competitive advantage and continue to draw those events to Greensboro," said Greensboro Mayor Robbie Perkins.
And the millions in capitol improvements wouldn't be paid for by taxpayers dollars, but rather money generated from the hotel tax.
"It's a stream of income that is generated from people outside of our county staying in local hotels and motels,” Perkins said.
Reinvestment in the complex that generates those dollars, in hopes of creating an economic boost for years to come.
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