Any city looking for a template for building a new community-based arena could do worst than emulate what Sedgwick County accomplished with a new Wichita arena, as the county was presented yesterday with a $1.1 million check covering taxpayers’ share of net building income.
Overall, Intrust Bank Arena had a net building income of slightly more than $2 million: $7.005 gross with $4.995 million in operating expenses. The deal with building manager SMG splits the net income: SMG get the first $450,000 as its management fee and Sedgwick County receive the next $450,000. Sedgwick County then receives 60 percent of the remaining net building income, with SMG receiving 40 percent.
The first year of the $196-million arena was a success: it hosted 80 events featuring 119 performances and more than 492,500 guests, with 24 concerts, 10 family shows, seven sporting events and 29 Wichita Thunder (CHL) hockey games, as well as 10 additional events. The biggest draw: George Straight attracted more than 14,000 fans.
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