Thursday, April 30, 2015Market Building Interior
“The City of Roanoke is contractually obligated to provide a financial support to the Market Building should it be necessary,” said Assistant City Manager Sherman Stovall.
In 2007 estimated revenues from the rental of the city-owned Market Building was $286,500 with a General Fund supplement of $35,000 that covered total operating expenses of $321,500. The maximum operational costs to the city was found in the 2006 budget at almost $393,000 that include some capital investment.
As the $7 million renovation was underway, the Market Building Fund was terminated in October of 2010. Control and management was transfer to the Market Foundation. The foundation