Pico Rivera : Lease Extended 15 Years for Operation of Sports Arena

Pico Rivera has granted a 15-year contract extension to Ventura Productions, a private firm that operates the city’s sports arena. The agreement immediately replaces the current lease, which would have expired in 1994.

The new terms, approved at last week’s City Council meeting, include increasing the annual lease payment from $50,000 to $115,000, effective this year. The lease will increase at 5% a year until the agreement expires in 2007. About 57% of the fee will be a payment to the Pico Rivera treasury; the rest will be used to maintain and improve the facility.

Scheduled improvements over the next 15 years include new restrooms, concrete entrances and exits to dirt parking lots, and upgraded electrical and drainage systems.

The city leased the 13-year-old venue in the mid-1980s after losing money for several years on its operation, said William Kent, director of recreation and community services. Pico Rivera also has arranged for contractors to run the municipal golf course, stables and campground.

Ventura Productions is a locally owned firm formed specifically to run the arena.