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troutman · 06-01-2012, 02:58 PM

$25 million NHL payment will come from Glendale utility fund

http://www.azcentral.com/community/g...lity-fund.html

Glendale's second $25 million pledge to the National Hockey League largely came from city water and sewer funds, which is not what city administrators said would happen.

Actually, city staff said the money wouldn't be needed at all because they expected the Phoenix Coyotes to be sold. If that had occurred, the pledge to help the NHL cover team losses during the 2011-12 season would have been moot.

That didn't happen and the biggest chunk of the pledge, $15 million, was siphoned from the utility fund into an escrow account awaiting the NHL's bill, which is expected any day.

Coyotes update

The Glendale City Council is expected to vote in the coming weeks on agreements with a potential Phoenix Coyotes buyer Greg Jamison regarding the lease and management of the city-owned Jobing.com Arena.

Glendale denied The Republic's request for copies of draft agreements provided to council in late May.

The request was made to provide details on the costs taxpayers are expected to bear, including $17 million in the coming fiscal year. The Republic noted the state's public-records law does not exempt draft agreements from disclosure and that residents need time to review and offer feedback on the complex, 20-year deal.

City officials said they would not release the documents because they are the subject of ongoing negotiations and it would not be in the city's best interest to release them.

As it stands, the city is expected to release the deal to the public by 5 p.m. June 8 ahead of a Tuesday council vote. That would provide taxpayers just two working days to review and offer feedback to elected officials on the deal.

06-01-2012, 02:58 PM	#830
troutman Unfrozen Caveman Lawyer Join Date: Oct 2002 Location: Crowsnest Pass Exp:	$25 million NHL payment will come from Glendale utility fund http://www.azcentral.com/community/g...lity-fund.html Glendale's second $25 million pledge to the National Hockey League largely came from city water and sewer funds, which is not what city administrators said would happen. Actually, city staff said the money wouldn't be needed at all because they expected the Phoenix Coyotes to be sold. If that had occurred, the pledge to help the NHL cover team losses during the 2011-12 season would have been moot. That didn't happen and the biggest chunk of the pledge, $15 million, was siphoned from the utility fund into an escrow account awaiting the NHL's bill, which is expected any day. Coyotes update The Glendale City Council is expected to vote in the coming weeks on agreements with a potential Phoenix Coyotes buyer Greg Jamison regarding the lease and management of the city-owned Jobing.com Arena. Glendale denied The Republic's request for copies of draft agreements provided to council in late May. The request was made to provide details on the costs taxpayers are expected to bear, including $17 million in the coming fiscal year. The Republic noted the state's public-records law does not exempt draft agreements from disclosure and that residents need time to review and offer feedback on the complex, 20-year deal. City officials said they would not release the documents because they are the subject of ongoing negotiations and it would not be in the city's best interest to release them. As it stands, the city is expected to release the deal to the public by 5 p.m. June 8 ahead of a Tuesday council vote. That would provide taxpayers just two working days to review and offer feedback to elected officials on the deal.