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Originally Posted by GGG
He also ignores that Seattle gave up a parking structure that makes a pile of money so did subsidize the Arena in the 8-10 million per year.
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By 'gave up' do you mean OVG will pay a fee for rights to the parking revenue that includes a formula ensuring the city reaches an agreed tax revenue baseline?
Small price to pay in exchange for hundreds of millions in arena improvements, guaranteed a minimum $113M in rent over the course of the lease, which in order to be extended the management group needs to invest at least $139M more.
But those are the deals you get when you have people competing for the project. Seattle was in an enviable position.
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The Seattle offer is pretty close to the city of Calgary offer. Though Seattle is picking up infrastructure
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They aren't remotely close, how'd you come to that? Calgary's offer has the city putting up cash and managing construction debt. The Seattle contribution is selling off potential revenue for a baseline amount of revenue to avoid having to finance any construction debt.