 |
| Laredo residents get arena close to home. |
The population of Laredo, Texas, has soared to more than half a million in recent years, up 44 percent during the 1990s alone. Despite the growth, sports fans still faced the prospect of having to drive more than 140 miles to either Corpus Christi or San Antonio to get to the nearest arena. Until now.
Spurred largely by the promise of a new minor league hockey team, Laredo residents voted in August 2000 in favor of a referendum supporting a 0.25 percent sales tax increase to help build a new arena.
The new $36.5 million Laredo Entertainment Center is expected to host about 100 events this year, including a dozen in its first month of operation.
The city of Laredo is scheduled to receive 50 percent of the revenue generated from any naming-rights deal, once secured, for the venue. The city also gets a $1 per vehicle parking fee and $1 per ticket sold for arena events.
Arena Ventures, owner of the CHL expansion Laredo Bucks, will pay $125,000 annually for 25 years. The city will match that annual payment, and the total will be put into the city's "renewal and replacement" account, which will cover building maintenance expenses.
Arena Ventures will keep all concessions revenue. The company also is handling efforts to sell the facility's naming rights, from which it will receive a 50 percent share. SMG will oversee all aspects of the arena's operation.
Major sponsors of the arena are Laredo National Bank, Whataburger Restaurants, Lacks Furniture Galleria, LNF Distributors/ Anheuser-Busch Cos., Reliant Energy, Taco Palenque, Doctor's Hospital, Hino Energy, Cadillac Bar/Turf Club and Pizza Hut.
ARENA FACTS
City: Laredo, Texas
Tenant: CHL expansion Laredo Bucks
Owner/operator: City of Laredo/SMG
Architects: Lockwood, Andrews & Newnam Inc.; Frank Architects Inc.
General contractor and construction manager: Beers Reed Construction (joint venture of Beers Construction Co. and Reed Construction Co.)
No. of seats: 8,000
No. of suites/club seats: 14/400
Projected cost: $36.5 million
Funding: 100 percent public, through an August 2000 voter-approved 0.25 percent sales tax increase. The city sold bonds backed by the sales tax increase to fund the project. Team owner Arena Ventures will lease the facility from the city.
Concessionaire/premium-seat caterer: SMG (both)
Pouring rights: Coca-Cola
Scoreboard provider: Daktronics
Floor/ice provider: Architectural Floors Inc./Cimco Refrigeration
Seat provider: Hussey Seating Co.
First regular-season game: Nov. 1 vs. Corpus Christi IceRays
Click here for a list of the Laredo Entertainment Center subcontractors.
