SBD/12/Facilities Venues

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  • DENVER OFFICIALS SAY NO TO NUGGETS

         City officials "declared an impasse" yesterday in its
    negotiations with the Denver Nuggets for a new arena.  Officials
    on both sides said that they hoped negotiations would resume --
    possibly as early as today.  The main sticking point in the
    discussions is money, and how much the city will receive from the
    team.  It has been agreed that the team would leave McNichols
    Sports Arena and enter into a 30-year lease at a new arena.  The
    Nuggets would then manage not only the new arena, but also
    McNichols and the Denver Coliseum.  In turn, the city would
    receive an annual payment of $2.2M, which "represents the revenue
    the city currently earns" from McNichols and the Colisuem.  Under
    the proposal, payments would increase 3% per year.  However, the
    sticking point is the city "insists" the annual payment increase
    with inflation (Lopez & Monroe, DENVER POST, 1/12).
    

    Print | Tags: Denver Nuggets, Facilities
  • NEW TAMPA ARENA MISSES DEADLINE -- NEW ONE SET

         Officials from the Lightning are aiming to complete their
    complex arena deal in time for the '96 season, now that they have
    missed the deadline for '95.  Team attorney Steve Pankau said
    that in order to meet the new deadline, the deal may need to be
    "wrapped up" by next month.  Pankau: "Bonds to finance
    construction of the $110 million to $120 million arena will be
    sold in mid-February at the earliest.  Waiting beyond then could
    jeopardize a '96 opening" (Kevin Walker, TAMPA TRIBUNE, 1/11).
    With an end to the NHL lockout, Lightning Governor David LeFevre
    was sure the arena will be built (Tom McEwen, TAMPA TRIBUNE,
    1/12).
    

    Print | Tags: Facilities, NHL, Palace Sports & Entertainment, Tampa Bay Lightning
  • RED TAPE MUST BE CUT BEFORE POLLIN CAN BUILD

         Abe Pollin's downtown arena project "has a long way to go"
    before any games can be played in the new building, according to
    a report in this morning's WASHINGTON POST.  Although DC Mayor
    Marion Barry says that the project is on the "fast track," Pollin
    must win an "array of bureaucratic approvals and a mountain of
    official papers must be pushed."  In the coming weeks, the DC
    Council will have to take "four separate votes on arena matters."
    Among the issues to be voted on: the collection of a tax from
    city businesses to pay for the city's share of development costs
    ($20M), financing details, and approval of a binding lease for
    city property at Gallery Place.  The deal also requires approval
    from Congress and zoning authorities, and an "environmental
    assessment" (Howard Schneider, WASHINGTON POST, 1/12).
    

    Print | Tags: Facilities
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