Given the economy, city officials in Ontario laid a pretty smart path for arena financing two years ago: Citizens Business Bank Arena will open without a single dollar of debt on the facility.
Given the economy, city officials in Ontario laid a pretty smart path for arena financing two years ago: Citizens Business Bank Arena will open without a single dollar of debt on the facility.
The arena already has a slew of events scheduled — the opening event on Oct. 24 featuring a Los Angeles Lakers game will be nationally televised, Carrie Underwood and Metallica are slated for concerts, and the ECHL’s Ontario Reign has 35 home games on the docket — but the biggest noteworthy thing about the arena lies in its financing.
Or lack of it. Ontario has paid for the cost of the $150-million facility via the sale of city land and revenue surpluses. It’s the centerpiece of a mixed-use development expected to bring housing, retail and a 125,000-square-foot office tower.
