Rockford aldermen were expected to vote on co-signing a loan for the Metro Centre. With one quick move, the Metro Centre's future remains uncertain.
Many Rockford aldermen spent the day number crunching. Most met with General Manager Corey Pearson throughout the day on Monday. By Monday night at the Rockford City Council meeting, a lot of heads were spinning with dollar signs and budget outlooks.
Waiting another week came as no surprise to Metro Centre General Manager Corey Pearson. What was surprising Corey says is the fact that many of the alderman did not have information to make an informed decision.
10th Ward Alderman Frank Beach says, "There may have been discussions on the 8th floor at the Mayor's Office, but at the alderman level, very little before now."
Pearson plans to use this week to make sure all of the aldermen have the facts.
Pearson says, "I know there's a gap and I'll try to find ways to mend that."
In order to make it past the end of the month the Metro Centre is asking the alderman to co-sign on a $700,000 bailout.
That loan would help the Metro Centre make it through their fiscal year that ends June 30. Some alderman solutions are to negotiate a smaller amount for a shorter time period. But Rockford Mayor Doug Scott says shortening the amount would mean the city council might have to visit the Metro Centre dilemma again.
Mayor Scott says, "We think we structured something that is not a risk to the city."
Another reason to hold over this vote, the fact that recent budget forecasts are so new even the Metro Centre authority board hasn't seen all the data.
Waiting a week is feasible for the Metro Centre to do. General Manager Corey Pearson says they're tight on funds, but have got some payments to look at to buy more time.