Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Arena negotiation discussion. UPD: Flames release their proposal

GioforPM · 10-20-2017, 09:47 AM

The final deal:

https://web.archive.org/web/20121013...d=2000_3230232

Negotiators say the final agreement, obtained by the Chronicle Tuesday night, addresses previous opponents' concerns in several ways:
There is no ticket tax, a loathed provision of the 1999 deal.
Financial arrangements are more amenable to a National Hockey League franchise, an attempt to placate would-be NHL team owner Chuck Watson.
There is a greater financial commitment from the Rockets; the effective up-front contribution is $105 million vs. $74 million in the 1999 agreement.
There are no tax abatements; in 1999 Rockets owner Leslie Alexander would have received an abatement on a parking garage he was to build.
The estimated $12 million to $15 million cost of the land, which as in the 1999 deal is to be purchased by the city's Convention and Entertainment Facilities Department, is less than half the cost of last year's proposed arena site.
The city will receive 5 percent of arena naming rights, or about $200,000 a year. Under previous iterations of this year's proposal, that revenue would have gone to the sports authority as part of the Rockets' rent payment.
The city will have more access to the arena, 20 dates as opposed to 10, and may use five of those dates for charitable organizations' fund-raisers.
Private interests will assist in construction of the facility's parking garage.
The basic terms of the $175 million arena agreement have remained unchanged for months. The sports authority will finance construction with its hotel and car rental tax revenue, and the Rockets will pay $8.5 million annually in rent to help pay off the bonds.

10-20-2017, 09:47 AM	#3655
GioforPM Franchise Player Join Date: Oct 2014 Location: Springbank Exp:	The final deal: https://web.archive.org/web/20121013...d=2000_3230232 Negotiators say the final agreement, obtained by the Chronicle Tuesday night, addresses previous opponents' concerns in several ways: There is no ticket tax, a loathed provision of the 1999 deal. Financial arrangements are more amenable to a National Hockey League franchise, an attempt to placate would-be NHL team owner Chuck Watson. There is a greater financial commitment from the Rockets; the effective up-front contribution is $105 million vs. $74 million in the 1999 agreement. There are no tax abatements; in 1999 Rockets owner Leslie Alexander would have received an abatement on a parking garage he was to build. The estimated $12 million to $15 million cost of the land, which as in the 1999 deal is to be purchased by the city's Convention and Entertainment Facilities Department, is less than half the cost of last year's proposed arena site. The city will receive 5 percent of arena naming rights, or about $200,000 a year. Under previous iterations of this year's proposal, that revenue would have gone to the sports authority as part of the Rockets' rent payment. The city will have more access to the arena, 20 dates as opposed to 10, and may use five of those dates for charitable organizations' fund-raisers. Private interests will assist in construction of the facility's parking garage. The basic terms of the $175 million arena agreement have remained unchanged for months. The sports authority will finance construction with its hotel and car rental tax revenue, and the Rockets will pay $8.5 million annually in rent to help pay off the bonds.