REPORT: KFC Yum Center raids renovation fund - WDRB 41 Louisville - News, Weather, Sports Community

REPORT: KFC Yum Center raids renovation fund

Posted: Updated:

LOUISVILLE, KY. (WDRB) -- The KFC Yum Center has raided a fund set aside for renovations and repairs so it can make regular debt payments.

Documents show the reserve account had dwindled to less than $4,000 from a balance in April of more than $3 million.

Arena officials say it was necessary because tax revenues didn't meet expectations.  Officials say they expected taxing district revenues of nearly $15 million, but received only about $6 million.

Renovation funds can be used for debt payments as long as US Bank, the bond trustee, approves the action.

Copyright 2012 WDRB News.  All Rights Reserved.

  • Closed Captioning

  • Thanks to a grant from Norton Healthcare, this story and others are available in real-time closed captioning on WDRB.
    Thanks to a grant from Norton Healthcare, this story and others are available in real-time closed captioning on WDRB.