Cobo Revenue Tops $23 Million For 2014 Fiscal Year

DETROIT (AP) - Cobo Center in downtown Detroit has brought in more than $23 million in revenue through the first 11 months of its 2014 fiscal year.

The Detroit Regional Convention Facility Authority says the amount as of Aug. 31 was $961,000 ahead of budget.

Total operating expenses through 11 months were $14.5 million - nearly $35,000 under budget. Results for the fiscal year's final month still were being calculated.

Officials announced last month that bookings for conferences and meetings were up this summer.

Cobo is home to the annual North American International Auto Show. A regional authority took control of Cobo from the city in 2009 and began renovations that included updating and expanding display space.

More than 90 percent of a $279 million capital improvement program has been completed.

© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.