Hoffman Estates may need 2011 tax hike for Sears Centre

Rockford’s Metro Center is not the only arena with economic problems. 

Officials project it will cost $1.2 million to $1.9 million in 2010 to simply run the Sears Centre. The village has set aside $3 million in the 2010 budget for arena operations.

Ryan Companies used a village-backed $55 million loan in 2005 to build the 11,000-seat arena near I-90 and Route 59.

Ryan, a Minn.-based developer, set up a separate company to run the facility. Events haven't been as plentiful as predicted, and the Sears Centre posted a $512,000 operational loss in 2008.

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