Dolphins Unveil Sun Life Stadium Renovations Louisville Announces Stadium Expansion Plan Lexus Gets Dallas Arena's Platinum Level Name DraftKings Inks Deals With Cowboys, Chiefs, Pats University Plans Threaten Downtown Cincy Project Raiders Move Into New Training Facility Iowa State Completes South End Zone Renovations Florida Close On O'Connell Center Financing Facility Notes Notre Dame Stadium Adding Three Video Boards
SBD/Issue 57/Facilities & Venues
City Council Approves More Funding For America West Arena
Published December 4, 2003
|Phoenix City Council Approves Extra
Funding To Assist With Renovations
The Phoenix City Council unanimously approved $17M in funding for renovations to America West Arena, "spurred in part by anticipated stiff competition for events from the new Glendale Arena," according to Harris & Richardson of the ARIZONA REPUBLIC, who note the funding will cover a new scoreboard, sound system and electronic advertising panels. The work will begin this summer following the completion of a current $50M renovation of the facility, which includes 20% in public financing. Council member Dave Siebert: "The arena probably has the best return more so than some of the other facilities on the investments we've made in it. We can't let it get antiquated. The sports teams are going to play somewhere, the concerts are going to be held somewhere, so why not Phoenix? Why shouldn't we capture those dollars and keep them here?" City records show Phoenix "has received $9.2[M] on its investment in AWA, which will total" $70M, or 41% of the $169M to build and renovate the arena. The Suns will have invested about $99M, or 59%, "the largest percentage of funding among" Phoenix' four major sports franchises. Phoenix Finance Dir Kevin Keogh: "We are not being asked to foot the entire amount. They (Suns) have stepped up and always financed a higher proportion than we have" (ARIZONA REPUBLIC, 12/4).