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“Significant Funding Gap” At Canal Place

September 19th, 2013 by WCBC Radio

It was a bleak financial picture painted during this month’s regular meeting of the Canal Place Preservation and Development Authority with revenue from the hotel/motel tax rapidly declining and limited options available to replace those lost dollars.  Authority Chair Andy Vick called it a “significant funding gap”. Canal Place, which is currently having its annual audits completed, has estimated a loss of around $27,000 for FY 2014. Making matters worse is that that loss comes at the same time that hotel/motel tax revenues will be cut off.  Executive Director Dee Dee Ritchie talked about some of the steps the Authority can implement to help offset the funding losses…





 

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