This week, Louisville alt-weekly magazine “The LEO” published an in-depth look at the Yum Center’s financial troubles and what must happen for the arena to escape bankruptcy. Joe Sonka, the author, says that one of the reasons the arena is accumulating debt so quickly is the “tax increment financing” (TIF) district surrounding the arena failing to generate the revenue needed to pay back the $359 million in arena construction bonds. Why? The lease between the Arena Authority and the University of Louisville restricts the number of events the arena can host–and make money off of.
It’s a good read, so give it a click if you’ve got nothing to do for the next five to ten minutes.