PHOTO: PAUL MCCREDIE Hutt City Council is bracing for a loss of up to $700,000 on its Lower Hutt Events Centre when its first year in business comes to an end.
Hutt City Council is forecasting a loss of up to $700,000 when its events centre’s first year in business comes to an end.
A Finance and Performance Committee agenda revealed the council expected to spend an extra $400,000 in its operating expenditure underwriting the $34.2 million Lower Hutt Events Centre which opened last July.
Council corporate service manager Brent Kibblewhite said a $200,000 loss had been budgeted for the financial year ending June 30 but a $600,000 to $700,000 loss was now forecast and would be underwritten as part of the council’s contract with Sarin Investments who operates the centre.
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