by Sam Hieb
Literally— premium parking revenue for the next-door Greensboro Coliseum will help offset deficits for the downtown Tanger Center for the Performing Arts:
The center will need the help. According to a study by AMS Planning & Research for the Arts and Entertainment Industries, the center will operate at a deficit of $174,000 its first year, $188,000 its second, $88,000 its third and $43,000 in its fourth. It should turn a $57,000 profit its fifth year, according to the study.
When city officials admit up front a venue will run deficits, don’t be surprised when those deficits are worse than initially projected.