FAIRFIELD, IA. -- One year ago, the Fairfield Arts and Convention Center opened to great fanfare.

On Friday, the FAAC board announced a major management restructing of the center.

VenuWorks, a facility management company from Ames, announced it was ending is affiliation with the FAAC just six months after signing a contract to run the day-to-day operation of the facility.

Both parties agreed the move was necessary to reduce overhead at the center.

The FAAC board announced the Fairfield Convention and Visitors Bureau Director Rustin Lippincott will assume the interim director's job.

Lippincott told KTVO on Friday that the FAAC faces significant financial hurdles as it tries to meet its debt obligations and increase revenues.

However, he wanted to assure Fairfield residents that the center remains open and the future does promising. The FAAC already has 60 events booked for 2009.