Tuesday, August 7, 2012

Yum Center Uses Reserve Funds For Debts

{Louisville, Kentucky}...The KFC Yum Center has used much of a reserve fund earmarked for renovations and repairs to make regular debt payments. The reserve account had dwindled to less than $4,000 from a balance in April of more than $3 million. Renovation funds can be used for debt payments as long as US Bank, the bond trustee, approves the action. Arena officials say they expected taxing district revenues of $14.9 million, but received only about $6.1 million.