How Glendale could work against Arizona Coyotes new arena plans in Tempe (*)
Source:
http://www.bizjournals.com/phoenix/...e-could-work-against-arizona-coyotes-new.html
(*) Article is behind a pay wall
However, here are some sections from that article:
- City of Glendale is already part of the political dynamic at the Legislature on the Coyotes issue and could add ot (sic) the political resistance to state help for the Tempe arena
- “In anticipation of that debate, during these meetings with legislators, we have provided factual information regarding the city’s existing lease with the Arizona Coyotes,†said Glendale Public Affairs Director Brent Stoddard in a statement. “We have shared facts regarding the significant investment taxpayers have already made and are still paying off to support the Coyotes in the West Valley. We have also communicated to legislators the city’s continuing desire for the Coyotes to remain the anchor tenant at the Gila River Arena.â€
- The Coyotes declined comment on the Glendale meetings and lobbying on the arena issue at the Legislature. But last month, LeBlanc said the Coyotes have also been meeting with lawmakers as well as policy and business groups about the arena plans. The team is also not strapped on to one specific funding plan.
“It would be suicidal to pin its success on one possible way of getting the financing done.†LeBlanc said. “We intend to aggressively pursue what we think is the most cost-effective, high benefit way of getting this deal done.â€
- ASU has been quiet on the arena plans.
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The current outstanding balance of the facility is $144.9 million,†said Glendale Assistant City Manager Tom Duensing. “This amount plus $78.8 million in interest is scheduled to be paid through 2033.â€