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SBD/September 27, 2012/Facilities
Facility Notes
Published September 27, 2012
In Edmonton, David Staples noted city council member Bryan Anderson said that he is "willing to consider measures that will assist the Katz Group over the 35-year lease on a new downtown arena, but only if the Katz Group opens up its books and proves such assistance is necessary." The Oilers' ownership "needs to demonstrate its financial need to the city's negotiators," which includes City Manager Simon Farbrother and CFO Lorna Rosen. Anderson said that if "there really is a need, council might then respond" (EDMONTONJOURNAL.com, 9/26).
MORE MONEY ON THE LINE: In Ottawa, David Reevely noted the city said that the "naming rights for Frank Clair Stadium are worth several times what the city thought because previous estimates didn't count on all the events the stadium's expected to host or all the people who'll see it from the neighbouring shopping area." The estimated value of the naming rights has gone from the C$15.8M "councillors were told last February" to C$50.2M. The difference is "a remarkably convenient number, cancelling out almost exactly a decline in the money expected from leases to retailers moving into new storefronts at Landsdowne after the park is renovated" (OTTAWA CITIZEN, 9/26).
TOGETHER WE CAN: The Univ. of Arkansas has selected Populous to design its new basketball practice facility. The preliminary estimated cost of the 70,000-85,000-square-foot building is between $20-25M. Populous, with partner MAHG Architecture, plan to break ground in '13 and will work with Fayetteville-based CDI Constructors, which will serve as the general contractor for the project (Populous).
CHICAGO HOPE: In Illinois, Jessica Cilella noted sponsorship and management agreements for the Sears Centre Arena "were extended by the Hoffman Estates village board." The board "approved a two-year extension to the existing sponsorship agreement with Front Row Marketing and a three-year extension to the existing arena management agreement with Global Spectrum, both with slightly revised terms." Based on the "extension approved Monday, if Front Row does not reach 50 percent of the forecast amount of cumulative sales by August 31, 2013, the village has the power to end the agreement early" (Illinois DAILY HERALD, 9/26).
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MORE MONEY ON THE LINE: In Ottawa, David Reevely noted the city said that the "naming rights for Frank Clair Stadium are worth several times what the city thought because previous estimates didn't count on all the events the stadium's expected to host or all the people who'll see it from the neighbouring shopping area." The estimated value of the naming rights has gone from the C$15.8M "councillors were told last February" to C$50.2M. The difference is "a remarkably convenient number, cancelling out almost exactly a decline in the money expected from leases to retailers moving into new storefronts at Landsdowne after the park is renovated" (OTTAWA CITIZEN, 9/26).
TOGETHER WE CAN: The Univ. of Arkansas has selected Populous to design its new basketball practice facility. The preliminary estimated cost of the 70,000-85,000-square-foot building is between $20-25M. Populous, with partner MAHG Architecture, plan to break ground in '13 and will work with Fayetteville-based CDI Constructors, which will serve as the general contractor for the project (Populous).
CHICAGO HOPE: In Illinois, Jessica Cilella noted sponsorship and management agreements for the Sears Centre Arena "were extended by the Hoffman Estates village board." The board "approved a two-year extension to the existing sponsorship agreement with Front Row Marketing and a three-year extension to the existing arena management agreement with Global Spectrum, both with slightly revised terms." Based on the "extension approved Monday, if Front Row does not reach 50 percent of the forecast amount of cumulative sales by August 31, 2013, the village has the power to end the agreement early" (Illinois DAILY HERALD, 9/26).
