From ADN: "As part of its contract with the private company operating the arena, Anchorage is on the hook for covering the deficit. The administration of Mayor Ethan Berkowitz is asking the Assembly to draw the money from what's essentially the city's general savings account."
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How much are we paying the private contractor SMG?  Perhaps I missed that when I read the article.
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Why didn't ADN report SMG being hired by Muni. back when, to run the show; or did I miss that story?  
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Something stinks!