ELMIRA, N.Y. (WENY) -- The Chemung County IDA remains optimistic on the status of the Elmira River Sharks and the First Arena as the expansion franchise inches closer to the end of its first season.

Elmira River Sharks hockey is a large revenue-generator at the First Arena, but it's also costly, despite this the IDA is confident that the First Arena can use its versatility to generate more funds and support its future.

CCIDA Chairman Mark Margeson told me that no final decisions have been made on the team's future -- but they remain in contact and stable communication with the FPHL Commissioner Don Kirnan.

"Economically how do we move forward? It's not a cheap process, we're talking not quite a million dollars but it's a shade under that. So, it's an expensive ordeal, hockey costs us between $750,000 and $900,000 a year," remarked Margeson.

The arena also looks to be a community-based facility by building on foundations of concerts, regional events, youth and junior hockey, and the facility's turf field set to open soon.

The IDA's goal is to secure a deal with the Elmira River Sharks soon stating that they hope to continue to build a strong and sustainable hockey program in the city. Currently the River Sharks are battling for a playoff spot with five games remaining in the regular season.