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  • CITY OF DENVER GETS A "HELLUVA GOOD DEAL" WITH PEPSI CENTER

         Details of the contract involving the new Pepsi Center and
    the city of Denver show that the city should gain compared with
    what it would have earned off McNichols Sports Arena and the
    smaller Denver Coliseum.  The new $132M Pepsi Center will be
    built and paid for by the Nuggets owner Comsat Video Enterprises
    and its partner, the Anschutz Corp, while the Nuggets will also
    manage McNichols and the Coliseum.  Based on the agreement, the
    Nuggets guarantee an annual $2M payment to the city, with an
    annual 3% inflation adjustment.  Under those figures, the city
    would "come away" with $95M over the 30-year contract,
    significantly more than the $66M the city "projected it would
    have earned off McNichols and the Coliseum."  Denver City
    Councilwoman Cathy Reynolds, who helped on the contract, called
    it a "helluva good deal."  As part of the deal, Comsat and
    Anschutz will pay for all infrastructure improvements, including
    traffic signals, turn lanes, and environmental cleanup costs at
    the new arena site (Christopher Lopez, DENVER POST, 4/13).
    

    Print | Tags: Denver Nuggets, Facilities, PepsiCo
  • GIANTS AND WARRIORS MEET TO DISCUSS NEW ARENA

         At the "urging" of San Francisco Mayor Frank Jordan, Giants
    officials met yesterday with new Warriors owner Chris Cohan and
    President Andy Dolich to discuss a possibile Mission Bay arena
    site.  The Giants are "trying to convince" Cohan that the planned
    entertainment/sports complex would be the "best" site for a new
    Warriors arena.  The Warriors claim, however, that, if they were
    to move to San Francisco, their "only choice" is Rincon Hill.
    Although specific plans of the Mission Bay plan are yet to be
    made public, the following points were made:  Financing would
    come from revenues raised specifically by the project itself,
    with the city's percentage of parking and increased property
    taxes used to repay bonds; no new taxes will be proposed; and,
    the arena and stadium projects would be developed separately
    (Glenn Dickey, SAN FRANCISCO CHRONICLE, 4/14).
    

    Print | Tags: Facilities, Golden State Warriors
  • HISTORY SAYS THAT DAVIS WILL RETURN FOR ANOTHER SEASON

         Coliseum officials in L.A. "still harbor hopes" that the
    Raiders will be playing there for the "foreseeable future,"
    according to Kenneth Reich in today's L.A. TIMES.  If Raiders
    Owner Al Davis proceeds with a deal to move to a new stadium at
    Hollywood Park, "it would be the third time in eight years that
    [Coliseum] officials have been told the team is on its way
    elsewhere."  Thus, officials hope Davis will agree to play there
    until a new stadium is completed.  If he does, they plan to
    pursue improvements including luxury suites, more parking and a
    modernized Exposition Park (the area that surrounds the
    Coliseum).  If Davis' Hollywood plan "does not materialize,"
    Coliseum officials hope he will decide to stay.  According to one
    official, if Davis does returns, it will not be under a rent-free
    deal, such as the one the team enjoyed last year (L.A. TIMES,
    4/14).
    

    Print | Tags: Facilities, Oakland Raiders
  • NEW HOME FOR MARINERS COULD BE CLOSER

         In Seattle, the "logjam stalling legislation" to finance a
    $250M stadium for the Mariners may have been broken this week as
    the state House took steps closer to passing the Stadium Bill.
    On Tuesday, a special House stadium committee agreed to remove
    what was considered one of the "main obstacles" to a new stadium:
    a proposal to tie financing the stadium to a request for $100M to
    expand the Washington State Convention Center.  It was "unclear,"
    however, whether the House would also remove the stadium issue
    from a King County request for help in repaying a $65M loan for
    repairs to the Kingdome (Angelo Bruscas, SEATTLE POST-
    INTELLIGENCER, 4/12).  In addition, a bill to create a public
    facilities district to finance construction of a new stadium "was
    working its way through" the state House, but still awaited a
    vote.  The district would have special taxing power independent
    of King County, increasing the county's sales and use tax by .1%.
    The tax, however, would still have to be approved by voters.  The
    stadium bill now moves into a joint House-Senate conference
    committee and must be approved by the Senate before going to the
    governor, who reportedly supports the proposed project (Angelo
    Bruscas, SEATTLE POST-INTELLIGENCER, 4/14).
    

    Print | Tags: Facilities, Seattle Mariners
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