If you watch the hearing below you will see just how much of your ticket purchase goes to the big guys and how very little goes towards the artist. What is left out of the discussion is just how much money stays in our community. Very little. I have argued that when you spend money locally on entertainment that money gets re-circulated in the community when you spend it at the Denty most of it goes straight out of town. And SALES don’t reflect profit which doesn’t even cover 10% of our mortgage payment;
It was the Premier Center’s most profitable year yet, coming in at $2.1 million compared to the previous record of $1.5 million set in 2019.
And just how much of that ‘profit’ goes back to city coffers?
The Butterfly House & Aquarium has raised $4.2 million toward its capital campaign to expand aquarium exhibits, which can be applied toward the project, Otto-Pepper said.
Of course the Butterfly House is merging with the Zoo and it seems they have raised a lot of money.
LSS is also merging with the Multi-Cultural center, which I fully support, and probably is long past due.
But you have to wonder what is going on with their bank accounts.
As you know, the Levitt has yet to release numbers from their 2021 season even as their 2022 season has been finished for over a month.
The Denny Sanford Premier center is up for contract renewal and they are taking in millions in profits and commissions.
According to the Pavilion’s annual report in 2021 they had over $5 million in the bank. This is after basically skipping a year due to Covid. You also have to remember that we not only give the Pavilion a yearly operational subsidy but we give millions each year fixing the building due to the poor construction of the facility to begin with (windows, roofs, etc.)
Maybe it is time the city council takes a hard look at how much we are subsidizing these facilities taking into consideration how much is in their bank accounts. Do we really need to subsidize the Pavilion, the Zoo, the Denty and other facilities when they may have millions in their bank accounts. I don’t think so.
Well, I could have seen this coming a mile away. As Scott Hudson and I discussed on our podcast before the Denty was built, the industry wasn’t really moving in a direction of big sold out concerts. The Premier Center was a splash in the pan, but unfortunately, we have to pay the mortgage and maintenance on the facility for its life.
Part of the issue was the way the bonds were passed to build the facility. It was many first time voters that didn’t know that it was an advisory vote (a real bond election would have required a 60% passage). If it would have been a REAL bond election, the EC would have failed.
I still think remodeling the Arena, turning the current convention center into a recreational facility and moving the Convention Center downtown would have been a better choice.
I had a person ask me the other day what I thought were Sioux Falls’ best years since I have lived here. (He moved here with his wife in 2010 and runs a successful small business). I told him that golden years were between 1997-2007. Downtown Sioux Falls was full of great live music and live music venues and was really a great place to be. I think we could have continued that trend if it were not for the 2008 recession. I don’t think the Sioux Falls middle class really bounced back from that recession. Wages were frozen throughout the city for several years and the only ones moving forward were the welfare queen developers who were cashing in on all the tax incentives. I think that ruined Sioux Falls, growth for growth sakes.
If the 2008 recession could have been avoided, and we throttled back on the growth in 2007 we would be a much better community for it. But hey! At least we have a dented up empty can to be proud of.
“We were getting ready to launch a market study to look at what’s the right sizing and scaling,” said Shawn Pritchett, director of finance for the city of Sioux Falls.
“Unfortunately with COVID, the market disappeared entirely, and there was nothing left to study.”
True. But why not just pick up where the committee left off? Why, once again, reinvent the wheel?
“You have to have the right type of expertise and professional experience to give truly meaningful outside perspective,” he said.
So are you saying the 1st committee didn’t have that? Not sure how a bunch of bankers and doctors are going to be much different?
When you look back on the first term of the administration, it’s hard to figure out what was accomplished accept a bunch of studies thrown in the garbage and a revolving door of directors at city hall. How do these people get elected and re-elected. Baffling.
I did not attend the Snoop Dogg concert last night, but I heard it was quite ‘smoky’ in the Denty. The SFPD released this statement;
Sioux Falls Public Information Officer Sam Clemens said that the police department did not receive any calls of drug use at the PREMIER Center during Tuesday’s show and there were no arrests made.
I guess he went on to say that there have also been no arrests made in the Tuthill ghost shooter event and the Gilberto’s incident. ‘At this time our concentration is just on arresting city employees’ (snarc).