It’s over at last. The official end came Thursday as the Wenatchee City Council gave unanimous approval to a legal settlement with Global Entertainment, the proposer, promoter and original manager of Town Toyota Center. There will be $1 million passed from Global to the city. The city will pass 40 percent to its lawyers. This settlement, in the language of Mayor Frank Kuntz, means “All the legal stuff will be done.”
That alone is larger than a minor miracle. A $1 million settlement comes nowhere close to compensating the city taxpayers in full. It may represent a reasonable split, considering the culpability the city shares. The city said the arena was built based on Global’s faulty revenue projections. Global said it was egged on by an overanxious city and then made a scapegoat when the arena defaulted on its $42 million debt. The legal system provides a means to share the blame. Remember, the city pledged its own funds to cover the Town Toyota Center shortfalls. It incurred millions in payments to investors and legal fees. That’s where this money came from. The regional sales tax surcharge later approved by voters goes to cover the refinanced Town Toyota Center debt, incurred after Global was long gone.