During a regular monthly meeting of Antigonish Town council last night, council heard about an
Antigonish Arena
accumulated deficit of the Antigonish Arena of around $100,000. Mayor Laurie Boucher said the deficit accumulated over a number of years. One of the reasons for the deficit include a line of credit upon which the town and county were paying interest as co-owners of the arena.
Boucher said the town and county decided to pay off the deficit from this year’s budget.
They mayor said the arena brings economic development to the town with hockey tournaments, and the exhibition. Boucher said they are in the midst of a study looking at where money is being spent and what they can do as an arena commission to stem the outflow of money and make sure they don’t return to a high deficit situation.