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Sammarone: City should consider selling Covelli Centre



Published: Thu, April 26, 2012 @ 1:10 p.m.

YOUNGSTOWN — Mayor Charles Sammarone said the city should take a look at selling the Covelli Centre.

The facility has never made enough money to cover the debt owed on it by the city since it opened in October 2005.

Nearly all entertainment-and-sports facilities throughout the country don’t make enough money to cover all of its expenses, the mayor said.

Sammarone said today that he plans to have discussions with SMG, the center’s national consultant, to see if there would be any company interested in buying the facility.

The center made a $59,144 operating profit during the first three months of this year, Eric Ryan, its executive director, said today. It’s projected operating profit was $51,024 for the time between January and March.

The biggest success was a sold-out Miranda Lambert concert on Feb. 18, attended by about 6,000 people, Ryan said.

Also, the city received $37,017.52 in the first quarter from its 5.5 percent admission tax on tickets sold for center events.

For the complete story, read Friday’s Vindicator and Vindy.com


Comments

1frank(9 comments)posted 2 years, 10 months ago

How about there property taxes they have yet to pay....

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2CongressWatcher(190 comments)posted 2 years, 10 months ago

So, pardon me, but who will buy it?

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3redeye1(4878 comments)posted 2 years, 10 months ago

toycannon What political party decided that Y-town needed an arena. The great D party That's who!!!!!! It was just another way that party wastes taxpayers money. Now after a few years they want to sell it . Lots of luck with that. That bunch of losers is now trying to screw someone else . Great poltics here in the valley

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4badeepster(119 comments)posted 2 years, 10 months ago

Heaven forbid we have some place in this town to see some live entertainment without having to travel to Pittsburgh or Cleveland. If it was up to the R party, everyone would sit home and do nothing but pay bills except the rich, who would seek tax cuts by day and party by night.

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5Jerry(555 comments)posted 2 years, 10 months ago

This thing required a federal grant of $25 million plus city money totaling $12 million to build (if I remember my numbers correctly). I am not sure if there was other investment or not.

As reported above it turned an operating profit of a paultry $59,144 for Q1 this year.

MAJICK - You must have an odd understanding of the definition of the word "asset".

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6peggygurney(402 comments)posted 2 years, 10 months ago

Ridiculous! If there was a hotel or two close by, and a few more shows scheduled, the Covelli would be profitable enough.

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