Donor Aids Fargo Arena
An unidentified benefactor has reportedly offered to pitch in a substantial amount of money toward
Officials with the Metro Sports Foundation, which runs the Fargo, N.D., arena, told the city’s Forum the donor wants the foundation to have the option to buy back the venue from the Fargo Park District.
However, the buyback may not be the best option as doing so would make the foundation liable for hundreds of thousands of dollars in property taxes, according to MSF treasurer Bruce Furness.
The $25 million Scheels Arena opened in 2008 and has struggled to bring in enough revenue to pay down the debt and meet operating expenses.
MSF officials have been negotiating with lenders for about a year to restructure payments to make them more manageable.
The donor’s name and how much the donation would be has not been revealed.
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