Part XV: Phoenix - the battle of evermore (UPD #443ff 14-Dec agenda/lease links)

[selkie]

$38,400 a WEEK????? Just to run and service the place?

The summer utility bills alone to run the AC just enough to prevent damage to the complex are going to be frelling expensive.

 

[htpwn]

It's going to be a emerge 24 hr notice meeting at the most inconvenient date possible. BOOK IT!!!

Am i the only one that noticed the mayors claim that it could run up to $20m a year just to run and maintain the arena per year ????? HUH WTF is she talking about.

$5,500 a day to do that? BS.

$38,400 a WEEK????? Just to run and service the place?

OR does that quote of a possible $20m a year not line up beautifully with the suspected $20m a year Hulz will get subsidized.

What a coincidence EH?

The estimated cost to run a renovated Maple Leaf Gardens is $5 million a year. This is for a gym and a 8,000 seat university arena, let alone a 17,000 seat arena NHL one. Maybe $20 million might be a stretch but I could definitely see $15 million.

Remember, Glendale is probably looking to hold events at the place, which will generate revenue but also drive up costs. I doubt they want to allow the building to sit empty à la the Aud in Buffalo.

 

[OthmarAmmann]

The summer utility bills alone to run the AC just enough to prevent damage to the complex are going to be frelling expensive.

Would the arena management costs not show up on the Coyotes P&L? Anybody have that link handy?

 

[aj8000]

The reason they cant have the Coyotes leave and do other things with the Arena is because there are SO many venues in the valley. The Coyotes are the anchor tenant and without them the interest on the arena Glendale pays is going to be Pejorative Slured. Its better to have some revenue coming in than none and a Westgate city center whos tenants leave because the anchor tenant in there lease agreement is gone.

Gollybass,

I'm sorry, you cannot have your cake and eat it too.

If you lower your rental to the Yotes to keep some revenue coming in as you state, they also could undercut every other venue in the area for rentals and bring in additional revenue. The promoters would see how much more money they would save and book in Glendale. The result would be some revenue coming in to the Jobing.com. Cash is cash.

As for the Westgate tenants who will leave if the anchor leaves. I have seen this argument used by several posters; however, if the Westgate businesses operating costs increase because of the CFD, they may leave anyways. (or go bankrupt)

I also cannot see that Elman would agree to the CFD to support the Yotes to save Westgate. He didn't want to pay for the losses when he owned them and sold his ownership interest to Moyes, why would he agree to the CFD that would make renting space in Westgate harder to support the Yotes now? If the CFD is the answer, all Ellman had to do was increase the rent at Westgate to subsidize the Yotes. Why didn't he do that? That market would not allow him to.

If the yotes leaving would be the death kneel for Westgate, the CFD would probably be the slow and painful death of Westgate.

I am sorry, those arguments do not hold water. They are no different then my fellow Winnipeggers who state that if the Yotes were in Winnipeg they would sell out every night.

Out of curiosity, do you live and pay property taxes in Glendale?

 

[gollybass]

Gollybass,

I'm sorry, you cannot have your cake and eat it too.

If you lower your rental to the Yotes to keep some revenue coming in as you state, they also could undercut every other venue in the area for rentals and bring in additional revenue. The promoters would see how much more money they would save and book in Glendale. The result would be some revenue coming in to the Jobing.com. Cash is cash.

As for the Westgate tenants who will leave if the anchor leaves. I have seen this argument used by several posters; however, if the Westgate businesses operating costs increase because of the CFD, they may leave anyways. (or go bankrupt)

I also cannot see that Elman would agree to the CFD to support the Yotes to save Westgate. He didn't want to pay for the losses when he owned them and sold his ownership interest to Moyes, why would he agree to the CFD that would make renting space in Westgate harder to support the Yotes now? If the CFD is the answer, all Ellman had to do was increase the rent at Westgate to subsidize the Yotes. Why didn't he do that? That market would not allow him to.

If the yotes leaving would be the death kneel for Westgate, the CFD would probably be the slow and painful death of Westgate.

I am sorry, those arguments do not hold water. They are no different then my fellow Winnipeggers who state that if the Yotes were in Winnipeg they would sell out every night.

Out of curiosity, do you live and pay property taxes in Glendale?

Im not arguing that the tenants would leave, they said it themselves when these shenanigans first began.

As for where I live I don't see quite how that is of any relevance here.

 

[Fugu]

Im not arguing that the tenants would leave, they said it themselves when these shenanigans first began.

As for where I live I don't see quite how that is of any relevance here.

Obviously you don't have to disclose where you live, but I think his question is whether or not your support would be as strong if this were your city and governance taking on this type of commitment.

 

[Killion]

The Council Agenda should be released by 7pm (Pacific) which may or may not make for interesting reading & hopefully, mercifully, a patch of blue sky.

 

[gollybass]

Obviously you don't have to disclose where you live, but I think his question is whether or not your support would be as strong if this were your city and governance taking on this type of commitment.

I actually live in mesa and drive 100 mile round trip to games.

As far as if i lived in Glendale, I absolutely would be behind it, tax payers stand to lose more if the team leaves.

 

[gollybass]

The Council Agenda should be released by 7pm (Pacific) which may or may not make for interesting reading & hopefully, mercifully, a patch of blue sky.

I know someone sitting at the COG offices right now, it is on the agenda, but he doesnt speak lawyer.

 

[Killion]

Obviously you don't have to disclose where you live, but I think his question is whether or not your support would be as strong if this were your city and governance taking on this type of commitment.

In for a penny, in for a pound.

 

[aj8000]

As for where I live I don't see quite how that is of any relevance here.

Don't have to answer if you don't want too; I was just trying to see if your concern regarding the Jobing sitting empty is because you are a Yotes fan and a rate payer in Glendale or just a Yotes fan.

 

[Killion]

I know someone sitting at the COG offices right now, it is on the agenda, but he doesnt speak lawyer.

Marvellous. Written in a combination of Latin & ancient Sumarian.

 

[gollybass]

Don't have to answer if you don't want too; I was just trying to see if your concern regarding the Jobing sitting empty is because you are a Yotes fan and a rate payer in Glendale or just a Yotes fan.

I understand

 

[htpwn]

Marvellous. Written in a combination of Latin & ancient Sumarian.

 

[pucka lucka]

Well, the agenda has been posted. Looks like a nice little shell game the CoG is attempting to play.

 

[gollybass]

lease term is 30 years

 

[GoJetsGo55]

Well, the agenda has been posted. Looks like a nice little shell game the CoG is attempting to play.

Link?

 

[gollybass]

Link?

http://www.glendaleaz.com/Clerk/agendasandminutes/Meetings/Agendas/121410-23.pdf

 

[OthmarAmmann]

Statement:

http://www.glendaleaz.com/documents/STATEMENT-FACT-SHEETGlendaleNHLCoyotesUpdate121010.pdf

 

[kdb209]

The new Agenda is here! The new Agenda is here!

This is the kind of spontaneous publicity - your name in print - that makes people. I'm in print! Things are going to start happening to me now.

http://www.glendaleaz.com/clerk/agendasandminutes/
http://www.glendaleaz.com/Clerk/agendasandminutes/Meetings/Agendas/121410.pdf

23. ARENA AND COYOTES AGREEMENTS

 

[cheswick]

Someone care to read the 150 pages and write a Coles note version

 

[OthmarAmmann]

are they just handing him $100 mm?

The Agreement
The proposed agreement will continue to allow Glendale to receive all the revenue it currently
does to pay its obligations on the arena.
This proposal provides for the city to purchase parking rights from the team for $100 million.
The city will manage the parking at Jobing.com Arena with this new revenue stream going to
pay the purchase rights. The new revenue would include parking fees, advertising and naming
rights. Parking revenue is generated year-round at every event at the arena, not just Coyotes
games.
Glendale owns the arena and it is Glendale’s responsibility to maintain the facility. Under the
proposed agreement, Glendale will contract with a management firm to operate the arena with
projected expenses of approximately $17 million per year, which is currently offset by having
the Coyotes as the arena’s main tenant.
Mr. Hulsizer has an option to purchase the arena after five years. If Mr. Hulsizer declines that
opportunity, Glendale can seek a new arena owner if it’s in the city’s best interest. Such a sale
will not impact the Coyotes use of the arena.

 

[TrentSteele]

A 2008 Study on Jobs in the area?

How have those numbers changed over that last 2 years?

 

[David_99]

are they just handing him $100 mm?

The city didn't own the parking rights? It's their land.

 

[RR]

The new Agenda is here! The new Agenda is here!

Most excited I've been since the new phone book arrived last week.