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Ralston looks for ways to pay arena debt

Ralston looks for ways to pay arena debt
Posted at 11:35 AM, Sep 04, 2018
and last updated 2018-09-04 12:35:12-04

As it struggles with debt, Ralston is considering increasing property taxes, eliminating two full-time positions and making cuts to police overtime to get things under control, according to our partners at the Omaha World-Herald.

Ralston Arena was supposed to cost $25 million but eventually, the bill was $41 million and the arena has not made a profit in any year since its opening in 2012. 

According to the World-Herald, the city has to pay $4 million in debt service on the arena in the 2018-2019 fiscal year but the city is only expected to bring in around $4.8 million. 

In addition to the Arena, Ralston also has increased expenses in its general fund, according to the City Administrator. 

Ralston last raised taxes in 2015. 

The City Council will discuss a budget in the coming week and consider approving a plan on Sept. 18.