Despite being the starting point of sorts for many tourists in Atlanta, Centennial Olympic Park is struggling to make ends meet.
The downtown attraction, which draws about half of its $3.2 million annual budget from the Georgia World Congress Center Authority, has failed to meet its budget projections for more than two years as income from events at the park have not kept pace with expectations.
That has made it tougher to keep up with the park's costs, including replacing deteriorating landscaping, pressure washing the commemorative bricks and maintaining the park's centerpiece feature, the Fountain of Rings. The park turns 16 this year.
Joe Skopitz, the park's assistant general manager, said all necessary maintenance work is being done and that there is no danger that officials will have to cut groundskeeping corners. But more funding for the work is coming from the GWCCA instead of Centennial's own earnings.
Centennial's health is important because it is a linchpin in metro Atlanta's aspirations as a tourism destination. Attractions, including the Georgia Aquarium and the World of Coca-Cola, moved across the street from the park in part because of its potential as a focal point for visitors. Other nearby tourist draws include CNN Center, the Georgia Dome and Imagine It!The Children's Museum of Atlanta.
To raise money, the park is planning a ticketed concert in May, the first of several shows if the first event drives revenue, Skopitz said. Officials hope to raise about $100,000 for "Party in the Park," which will showcase Flaming Lips, Young the Giant, AWOL Nation and Dawes.
The ticketed event is a change for the park, which has developed a reputation for free events, including Wednesday WindDown and Music @ Noon. But those shows rely heavily on sponsorship support, which is more difficult to attain with a slow economic recovery.
"We are being encouraged to be more entrepreneurial and explore all options," Skopitz said.
Economist Tim Mescon said park leaders are addressing the "pay-to-play" reality of today's economy. Supporting the community with free fare, while well intended, does not keep a balance sheet in the black.
"There's no contingency plan anymore," said Mescon, president of Columbus State University. "Margins are thin. There's just no extra resources anymore to support what you don't pay for."
Centennial is not alone. The economy has forced many attractions to tighten their belts or re-evaluate operations. And two promised destinations, the National Center for Human and Civil Rights and the College Football Hall of Fame, have yet to break ground as fundraising has been more difficult than expected. The civil rights center expects groundbreaking in June.
To be fair, park leaders are quick to note that it was never intended to be self-sustaining. After the 1996 Olympics, it was designed to be a "quality of life" destination for Georgians.
The park has seen food and beverage sales, its main source of income, drop over the past few years. One of Centennial's biggest meetings, MGX, a pseudonym for Microsoft, moved to other locations, including Pemberton Place and the outdoor sites at the Congress Center.
Centennial's attempt to become more business-oriented two years ago has not yielded the expected results. Googie Burger, a fast-food operation the park opened in 2010 with hopes of of generating income, has failed to fulfill its promise.
Skopitz admitted park officials have been disappointed by Googie Burger's performance. They plan another push to make it a destination by changing the menu, a more robust marketing campaign and trying to convince Georgia State University students to make Googie their tailgate spot in the same way The Varsity has served that purpose for Georgia Tech fans.
"We had higher hopes [for Googie Burger], but it was never a fix to our long-term financial issues," Skopitz said. "It was never the magic bullet."
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