MARYLAND HEIGHTS — A revenue shortfall at the new public ice center here prompted the city of Maryland Heights to again tap a special fund in order to make mandatory bond payments.
The city is required to make biannual interest payments, in addition to annual debt payments, on the $55.5 million in bonds it issued to build the $83 million Centene Community Ice Center, where the St. Louis Blues practice. Revenue from the ice center and the area’s special 1% sales tax, which also nets money from the nearby Hollywood Casino & Hotel and the Hollywood Casino Amphitheatre, contribute to debt payments.
But the coronavirus’ impact on revenues caused the city to use $362,000 of reserve funds — the second time this year it has had to do so — to make its $1.3 million interest payment that was due Wednesday, according to financial disclosures.
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City Administrator Tracey Anderson did not respond to a request for comment.
The four-rink center, at 750 Casino Drive, opened in 2019. But COVID-19 prompted the facility to close for several months last year.
In June, contractors sued the center’s operator, alleging they are owed more than $6 million for unpaid work. The city, in financial disclosures released Wednesday, said it expects “there will be extraordinary compensation, costs and expenses†related to the lawsuit. Those costs will be covered by revenues from the ice center and special sales tax, the documents said.
