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WINSTON-SALEM ? The future of two Winston-Salem landmarks will be top of mind for a city council committee Monday.
The finance committee will discuss the potential sale of the Lawrence Joel Veterans Memorial Coliseum and Bowman Gray Stadium.
It is considering selling the coliseum to Wake Forest University for $8 million and the stadium to Winston-Salem State University for $4.3 million.
The council says there are three primary reasons why, and they're all driven by the financial bottom line.
First, the two facilities operate with a combined annual budgeted loss of more than $400,000, which is covered by taxpayer dollars.
Second, they need lots of repairs, updates and deferred maintenance ? an estimated $9.2 million at the coliseum and $1.8 million at Bowman Gray.
Third, payoff of the existing outstanding debt and other related costs would add about $10 million to the city's debt capacity, money that could be used for projects such as roads and sidewalks.
The finance committee meets from 4 p.m. to 5:30 p.m. in council chambers. It is open to public comment and will be televised on Channel 13 on Time Warner Cable.
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