Industry Noize: Glens Falls Civic Taking Bids

“We’re hemorrhaging money there. We have to cut our losses and get out from under it,” Mayor John Diamond told the local Post-Star following a council meeting. He added that the city had exhausted all options to keep the venue in public ownership.

Bidding for the building will start at $1.5 million on Aug. 18. The Glens Falls Civic Center has reportedly operated at a loss since it was built in 1979 and the city’s previous attempts to entice buyers were a bust.

“I received zero responses – zero,” Diamond said. But the new plan is drawing some interest, apparently.

Seven potential buyers have picked up informational packets about the venue, the Post-Star reported, and several bids have rolled in.

Mark Schachner, an attorney representing one potential bidder, wrote to city officials that “our client group may be in a position to put forth an offer prior to the proposed auction, perhaps as soon as next week, which we believe the city (Common) Council will find very attractive,” the paper noted. The venue is managed by Global Spectrum and home to the newly arrived Adirondack Flames of the American Hockey League.

A buyer would be required to honor the city’s lease with the Flames, as well as the Global Spectrum agreement, that expires in 2016.

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