Philadelphia-based Spectra Venue Management will continue as the operator of Conference Center Niagara Falls and outdoor events on Old Falls Street in 2021 for a fee of $250,000.
The USA Niagara Development Corp., a state agency, owns the center. Its board decided Monday to extend Spectra's contract for a year instead of seeking new bids, a process that the agency decided wouldn't work well because of "extremely unfavorable market conditions" tied to the Covid-19 pandemic.
"Events at CCNF have been cancelled, no new business for 2020 is being booked and events scheduled for beyond this year are in jeopardy. With no revenues being generated, employee furloughs have become necessary and other cost-saving measures are being enacted," USA Niagara President Anthony Vilardo told the board in a memo.
Spectra, formerly Global Spectrum, has managed the building since 2009. Its last contract, approved in 2013, was a five-year deal which allowed two one-year extensions. The last extension runs out Dec. 31, but Empire State Development, USA Niagara's parent agency, decided it would be legal to extend it again.