[sureLoss]

Mayor of Abbotsford says it is unlikely there will be an anchor tenant in place for next season.

Some are predicting a major economic fallout.

http://www.abbynews.com/news/258659381.html

n January 2011, a study presented to city council by consulting company Grant Thornton International stated the arena generated an economic impact of $24.3 million in 2010 and created the equivalent of 305 full-time jobs.

The report didn’t break down the Heat’s share of the economic spin-off, but it did note that the hockey team accounted for 70 per cent of the arena’s total attendance in that year.

In a subsequent interview, Lane Sweeting, whose Fraser Valley Sports and Entertainment group operated the Heat, said the hockey team accounted for “well over half” of the facility’s economic impact.

“The economic impact (of not having an anchor tenant) is going to be quite severe,” Sweeting told The News this week. “It’s a significant amount of salaries that are gone from this marketplace.”

Sweeting added that the hockey team paid about $7,000 per game to the arena to cover overhead. Based on 41 home games in 2013-14, that represents $287,000.

Local non-profit groups will also be affected by the Heat’s departure.

Over their five seasons in town, the Heat generated nearly $1 million for non-profits, according to figures supplied by the hockey club. That includes 50/50 draws ($444,069), Heat Foundation grants for youth-focused charities ($161,693, including an estimated $60,000 in upcoming 2014 grants), and a program which allowed groups to re-sell Heat tickets as a fundraiser (potential profits of $392,770).

Almost $600,000 was generated in the last two seasons, largely due to a change in the fundraiser program which saw the non-profits’ take increased from a flat $3 fee per ticket sold to approximately 50 per cent of the retail rate.

Lots of charity/non-profit groups scrambling to replace the money they are no longer getting from the Heat