The attorney representing the Ice Zone says an agreement is in place that should keep the skating venue in operation.

Bill Weimer tells 21 News that owners of the Ice Zone have reached a two year agreement with PNC Bank to pay off a $2.8 million dollar debt.

A civil complaint filed by PNC Bank in U.S. District Court in January alleged that the Ice Zone LTD, the Zoldan Hutch Land Partnership, Bruce Zoldan of Canfield and his business partner Thomas Hutch of Poland were in default on the balance of a promissory note that was originally in the amount of $2,826,474.

PNC declared the note in default and asked the court to allow the sale of two parcels of land along McClurg Road to pay off the debt.

Both sides have now reached a forbearance agreement this month allowing Zoldan more time to pay off the debt, halting foreclosure proceedings.

The agreement would allow PNC to increase the interest rate on the debt by two percent if the Ice Zone defaults on the debt.

In early 2013, Weimer said that Zoldan was losing $300,000 to $400,000 a year operating the Ice Zone and it was announced that venue would be closing.

In April of that year, Ice Zone supporters launched a plan to sell season tickets to Phantom Hockey games at the Covelli Centre, and use some of the proceeds to keep the Ice Zone open.