SBD/9/Facilities Venues

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  • PROPOSED PLAN CALLS FOR NEW FENWAY OVER MASS TURNPIKE

         A proposal for a replacement for Fenway Park was unveiled by
    MA-based architects Eduardo Lozano and Michael Baskin last week
    in Boston.  The plan calls for a new park to be built next to the
    current location on a deck over the Mass Turnpike, linking it
    with the Hynes Veterans Convention Center, via a half-mile
    pedestrian walkway (Richard Kindleberger, BOSTON GLOBE, 1/6).
    Red Sox VP John Buckley denies any claims that the two parties
    have met, but another source insists that meetings have been held
    without Buckley's knowledge (Phil Primack, BOSTON HERALD, 1/6).
    

    Print | Tags: Boston Red Sox, Facilities
  • PUBLIC BUYOUT PLAN OF MINNEAPOLIS ARENA IS OFF-TARGET

         A proposed change in federal law has "knocked the foundation
    out from under the elaborate financial plans for a public
    purchase" of the Target Center arena.  A way may be found to
    restructure a buyout plan that works "financially and
    politically, but for now the proposal put in place" by the MN
    Legislature last spring "is dead."  The new federal law says that
    a public body may not use tax-free bonds to buy a facility --
    such as the Target Center -- if the building is used for the
    benefit of a private tenant, such as the Timberwolves.  For more
    than a year, the officials planning the arena purchase thought
    that tax-free bonds could be used if the money to repay the bonds
    came from new admission taxes and surcharges rather than from
    direct lease payments by the Wolves.  Henry Savelkoul, Chair of
    the MN Sports Facilities Commission: "If we follow the rules and
    the state law, the deal just doesn't work, and we can't make it
    work."  The latest development in the "tortuous buyout
    negotiations has the potential to kill Glen Taylor's purchase of
    the T-Wolves -- a purchase that is still contingent on a public
    takeover of the arena" (Patrick Sweeney, St. Paul PIONEER PRESS,
    1/9).
    

    Print | Tags: Facilities, Minnesota Timberwolves
  • QUESTION OF "WHO PAYS" HOLDS UP BREWERS' STADIUM PLANS

         As the WI Governor's Stadium Commission concludes its
    business over the next three weeks, questions will have to be
    answered regarding a new facility for the Brewers. Questions
    remain how much the team will contribute to the $200M-plus
    project, how much the public will pay, and where that public
    money will come from.  But as Craig Gilbert writes in the
    MILWAUKEE JOURNAL, "While the stadium project has apparently
    evolved over time from a largely private one to a largely public
    one, the implications of that have never been made explicit to
    the public."  Brewers VP/General Counsel Wendy Selig-Prieb on
    publicly-assisted financing of a new stadium: "I don't believe
    the public will be surprised.  I think there is a much higher
    sophistication of knowledge about the sports business than there
    has ever been" (Craig Gilbert, MILWAUKEE JOURNAL, 1/8).
    

    Print | Tags: Facilities, Milwaukee Brewers
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