The fate of Rockford's Metro Centre will be known soon. The Rockford city council is expected to vote Monday night on Mayor Doug Scott's $700,000 plan loan to bail out the entertainment venue. The state of Illinois could have some influence on what happens. The state has already approved funding for the capital improvements underway at the Metro Centre.
The $3.8 million that will be released will help the financially troubled venue pay down some of its debt, but the release of the money still has not cleared the comptroller's office, so the Rockford City Council will still have to decide if they will co-sign on a loan to keep the Metro Centre running until state funds arrive.
The Metro Centre authority says they need $700,000 to stay afloat until next June, but some aldermen don't want the city to bailout the facility without assurances that the venue will fix its financial problems, so they are offering to only co-sign on a $300,000 loan.
If the city council votes along party lines, the mayor will be the deciding vote.