Evanston has been trying to reach a deal for a new privately-funded ice rink on the site of the city’s existing rink. Those prospects can’t be helped by a new report on what’s happened to such rinks in other suburban towns.
Crain’s Chicago Business today reports that finances underlying some suburban ice rinks are “slip sliding away.”
It reports that buildings in Romeoville and West Dundee financed with “sports facility revenue bonds” have gone into foreclosure, along with a non-ice facility in Barrington.
The only one of the projects that’s still current on its payments to bondholders is the smallest of the lot — the North Shore Ice Arena in Northbrook, which was financed with $8.5 million in bonds and $1.3 million in donations.
When last heard from, a discussion of the future of the Evanston project was postponed by the City Council back in October.
Top: A rendering of a Evanston ice rink proposed by a developer who estimated the project would cost $55 million.
Suburban ice rinnk finances are slip-sliding away (Chicago Business)
New Crown Center project could be on thin ice (Evanston Now, 10/8/12)