City To Cover RBC Rental Payments
The City of Sarnia is now on the hook for more than $565,000 in back rental payments from the current operators of the RBC Centre.
Sarnia Sports Centre Inc., hasn’t kept up with monthly rental payments for the facility since last September and the city has been covering the $36,000 rent each month.
Finance Director Brian McKay says the allowance was unanticipated when staff were preparing the 2013 year-end forecast and represents 80 per cent of the operating deficit.
As part of an agreement with the current operators of the RBC Centre, SSC Inc. will pay $800,000 of $1.3-million in outstanding debt and surcharge amounts.
Sarnia’s total 2013 year-end operating deficit amounts to nearly $740,000.
Sarnia Council will be asked Monday to pay for the shortfall from the Capital Infrastructure Renewal Reserve Fund.