Arena facing financial trouble - wave3.com-Louisville News, Weather & Sports

Arena facing financial trouble

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LOUISVILLE, KY (WAVE) – More financial trouble has been revealed concerning the Louisville Arena Authority and the KFC Yum! Center.

Documents show the arena's reserve account, meant for renovations and maintenance, has dwindled to less than $4,000 from a balance of more than $3 million in April.

The Arena Authority said it was forced to pull money from the reserves because tax revenues did not meet expectations.

The Arena Authority set aside the $3 million as part of an agreement with lenders who bought $349 million in bonds to pay for  the construction of the KFC Yum! Center.      

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