Hey Legend,
Please don't confuse my disregard for Bettman, IA, Barroway, etc.....with my feelings about Meruelo. One thing you have to credit the guy for, he's put his money into getting the proposal to a referendum. He's willing to let the voters decide his fate, and he has some $$ that could be simply a loss if it doesn't go.
Tempe is pretty well indemnified here, and I think that is the main feature that the city wanted. There are nocost overruns which they are responsible for, no hidden fees, it's explicit the caps at what they have to pay at various stages. It's nicely done on their part, and the only part that they had to give in one is a 30 instead of 8 year GPLET.
My 'squeeze' comment was directed toward Ernie's idea that the owners might squeeze the players to pay for the next round of arenas. I guess I wouldn't put that past them, but that would be a very heated CBA negotiation.