Citizens Alert

Citizens Business Bank Arena in Ontario, Calif., is set for its grand opening Oct. 24, celebrating the occasion with a nationally televised Los Angeles Lakers preseason game.

The 225,000-square-foot arena, with a capacity of 11,000, rang up at a cost of $150 million, according to the Press-Enterprise. The city of Ontario covered the bill.

Although some publicly funded venues in the region haven’t done so well, with the local paper citing San Manual Amphitheater in Devore and Diamond Stadium in Lake Elsinore as examples, supporters say this arena is different.

When Citizens Business Bank Arena opens, it will be bond-free and debt-free. It was paid for with $62 million in revenue from the sale of other property, $12 million from the city’s redevelopment department and $76 million from the surplus Ontario sets aside every year in a facilities fund.

“I think that whole deal has been put together, frankly, brilliantly,” John Husing, an Inland economist, told the Press-Enterprise.

Ontario City Manager Greg Devereaux told the paper that in 10 to 15 years, he expects the city to earn back its investment through arena revenue and surrounding development.

Future development includes housing, stores, a 125,000-square-foot office building, a hotel and more homes, retail and office space.

The venue is expected to create about 30 full-time jobs and 400 part-time jobs through contractors working at the site.

AEG Facilities has been tapped as the operator of the venue. The Press-Enterprise reported that if AEG earns more than $650,000 annually, it’s good news for the city because Ontario will earn 75 percent of everything earned beyond that sum.

Either way, AEG will pay the city $1 million annually. Citizen Business Bank, which is based in Ontario, has a 10-year naming rights deal with AEG for an undisclosed sum.

Dates on the books include Carrie Underwood, Bill Gaither & Friends, Alan Jackson and Metallica. The Press-Enterprise noted that touring family shows such as “Sesame Street Live,” the Harlem Globetrotters and “Playhouse Disney Live” are also booked.

In addition to not having to make the drive to Los Angeles or San Diego for a night of entertainment, fans will appreciate that parking is included in the ticket price at the venue.