Subsidizing the Cajundome – Lafayette Live

City-Parish President Joey Durel stopped by "Mornings with Ken and Bernie" today for our weekly "Lafayette Live"   segment.

Mr. Durel spoke about some of the results of last week's city council meeting that finalized this year's budget. He explained how some of the proposed budget lines were amended during the meeting.

We proposed that we would now start giving the Cajundome $550,000 instead of the $500,000 that had been in place for 25 years. We thought a 10% increase would be okay after 25 years. It didn't seem illogical. It's our civic center, and it's an inexpensive way for a town of our size to have a civic center. That money ended up going elsewhere.

After touching on the Cajundome the phone lines lit up with questions. One caller asked whether or not the Cajundome was making a profit, and if so, why should the City-Parish Government be subsidizing the venue.

Durel responded,

The point of the subsidy is to cover the loss. If the Cajundome was in the black we wouldn't need to subsidize it. Subsidies cover losses. The Cajundome could potentially run itself more profitably, but if we didn't have it operating as a civic center, hosting Mardi Gras balls, and events like LAGCO, we would have to build something at a much higher price and still pay for it.

To me, it's a pretty slam dunk decision on our return on investment.

To listen to the full interview, click the play button below.