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A revised business plan, which will be presented to the County Board this afternoon, will suggest slashing Artisphere’s hours, shuttering its restaurant and retail store, and generating more revenue via corporate event rentals.

Even if the plan is implemented, however, the task force expects Artisphere to burn through more than $2.3 million in taxpayer funds in financial year 2012 and another $1.6 million in financial year 2013. If the new plan is shelved, Artisphere will require nearly $2.7 million in taxpayer support in FY 2012, the task force said. The one-year-old venue’s original business plan projected only $739,975 in county taxpayer support in FY 2012.