Arena Deal thread: UPDATE: DEAL PASSED AND SIGNED OFF!!!

[Throwdown]

http://www.komonews.com/sports/Sacramen ... &smobile=y

Looks like the plan b for sacramento fell through and its now dead.

 

[Msfann]

Seeing as how the 4th of July fireworks thing is sponsored by Starbucks I hope we see some sonics colors in the crowd.

 

[SeaTown81]

Just another reminder to keep up the emails. Like I said the other day. The next couple weeks is going to be crucial.

Here's the handy KJR mailer that will copy all of the city and council members.

http://www.sportsradiokjr.com/pages/bri ... e=10162106

Also doesn't hurt to send your email to them personally. Or do what I do, and bug them on the phone.

http://www.sonicsarena.com/action

 

[Throwdown]

Someone needs to smack Chris Van Dyke, this dude is against anything fun

http://www.sportsradiokjr.com/cc-common ... AM&TRACK=#

 

[Pstark3]

Someone needs to smack Chris Van Dyke, this dude is against anything fun

http://www.sportsradiokjr.com/cc-common ... AM&TRACK=#

At least his name is fitting

 

[BlueThunder]

Chris Van Dyke is a complete tool. And he's so hard to listen to. Uh, uh, uh, uh and the, the, the, the.... and wuh, whu, whu, whu... God he sounds like a total 85 I.Q. moron! It bugs me that this idiot is someone that the media feels they need to talk to as some kind of important person in any arena/stadium deal, when he should be ignored as the insect that he really is. Is he really the best front-man that "Citizens Against Anything Fun" could come up with? I wish he'd do Seattle a favor and walk in front of a speeding bus.

 

[DHawk]

Someone needs to smack Chris Van Dyke, this dude is against anything fun

http://www.sportsradiokjr.com/cc-common ... AM&TRACK=#

This guy is a joke. "If someone else builds there, it may or may not generate just as much tax revenue as the arena deal." Are you friggin kidding me?! Nothing is there you tool! NOTHING. And stop making up fake businesses that can make up the same tax dollars as the arena. This guy just needs to go away.

 

[Throwdown]

Sounds like Seattles making a nice manipulation attempt to say no to Hansen, I hope he says screw these clowns and goes to Bellevue or builds it himself. Seattles really living up to my expectations of the idea that they don't deserve anything good.

 

[SeaTown81]

The worst thing about Chris Van Dyke (well not really, but the one of the more annoying aspects to him) is that he doesn't even live in Seattle. The douche bag lives in Bainbridge Island. He's nothing for a sniveling, miserable piece of crap who is paid to do this by the SEIU. I can't believe I didn't punch him in the face the one time I saw him on the Bainbridge ferry.

Keep up the faith, guys. This is politics. Seattle politics. Nothing is easy. And likewise nothing worth having is easily attained. Keep on fighting!

 

[Blitzer88]

Man......I am having less and less faith that this will happen.....always seems to happen.

 

[Throwdown]

Man......I am having less and less faith that this will happen.....always seems to happen.

The faith is definetly slipping with me, this is the closest we've been, and now its like Seattles going out of its way to say no.

Van Dyk is a clown though, a goofy looking hack who feels he has to be the smartest person in the room, and he's a condescending prick. An arena job isn't a good enough job, who the hell are you to say that a job isnt good enough? Go ask someone who's lost their job over some BS or someone who's just now starting out, some income is better than none! When you grow up in a less than ideal situation, you learn that real quick. I don't know Van Dyk's background but when you say stuff like that it makes me think he never had a tough moment in his life. Screw him, and screw Seattle if they turn this down I'm almost at my wits end reading things the council says or comments from the anti sports crowd.

 

[hawkcrazzed]

Just listened to the new chris hansen interview and i agree with salk. Who was replaying it and analyzing it. I believe chris hansen has a nba ready to come to seattle. Its just up to the city and county to get this done. If they pass on this i don't know how they can go for a vote in 2013 and say elect me again. Ill do the same nothing i just did with the arena cause we don't need that money.

 

[Seahawk Sailor]

Check out this March 2008 article where Van Dyk liked something that wasn't nearly as lucrative for the city of Seattle as the current proposal.

The proposed 50-50 split beats anything put on the table by Sonics owners. Even some usual critics of taxpayer subsidies for pro sports — including anti-stadium activist Chris Van Dyk and Seattle City Councilmember Nick Licata — say it could be a good deal.

Chris Van Dyk: you've now reduced yourself to being obstinate for obstinate's sake. Stop the idiotic foot stomping and posturing and move to Oklahoma. The only thing you're doing is assuring you won't retain your current job after the next election cycle.

 

[Blitzer88]

Check out this March 2008 article where Van Dyk liked something that wasn't nearly as lucrative for the city of Seattle as the current proposal.

The proposed 50-50 split beats anything put on the table by Sonics owners. Even some usual critics of taxpayer subsidies for pro sports — including anti-stadium activist Chris Van Dyk and Seattle City Councilmember Nick Licata — say it could be a good deal.

Chris Van Dyk: you've now reduced yourself to being obstinate for obstinate's sake. Stop the idiotic foot stomping and posturing and move to Oklahoma. The only thing you're doing is assuring you won't retain your current job after the next election cycle.

Wow........ :34853_doh:

 

[SeaTown81]

Keep the faith, fellas! This is a roller coaster, not Splash Mountain! There's going to be ups and downs along the way. We gotta fight through the downs, so we can live another day to cheer of the highs. Don't give up. Be heard!

 

[Seahawk Sailor]

"Chris Van Dyk" and "#dykhead" are currently trending like crazy on Twitter in an all-out blitz attack on him. Love it!

 

[Throwdown]

"Chris Van Dyk" and "#dykhead" are currently trending like crazy on Twitter in an all-out blitz attack on him. Love it!

They're killing him on there.

 

[JOz56]

Thank you for writing me about the basketball and hockey arena proposed by the Mayor for the SODO district.



The Mayor has sent the Seattle City Council a Memorandum of Understanding (MOU) for an arena in SODO, along with an Interlocal Agreement between Seattle and King County. Both the City and County Councils would need to approve the MOU for it to go in to effect.



The Seattle City Council and the King County Council will hold a joint public hearing on the proposed SODO arena at 5:30 p.m. on Thursday, July 19 in the Bertha Knight Landes Room on the first floor of Seattle City Hall, at 600 4th Avenue, between James and Cherry. Sign-up for the hearing begins at 5 p.m. The Council’s overall schedule can be viewed here.



In brief, the proposal calls for a $200 million public contribution for a $500 million arena, with a cap in public funding. $120 million of the bonds to fund the arena would come from the City of Seattle, and $80 million from King County; $300 million would come from investors. Taxes collected at the arena rent would be used to pay off the bonds over 30 years. An estimated $258 million in city taxes, with a net present value of $106 million, would be included. The investors could extend the lease for five years up to four times, making this a potentially 50-year agreement.



The Council is considering the proposal in the Government Performance and Finance Committee, and considering a list of issues released in May, which includes closely examining the agreement for clear financial responsibilities and obligations, transportation and freight mobility, the future of Key Arena, the provision of City services, and other issues.



Here’s my perspective and analysis. This proposal is better than previous arena proposals, with less public funding, no brand-new tax to pay for it, and a significant private sector contribution. Secondly, the intent of the proposal is to address Initiative 91, approved by 74% of Seattle voters in 2006, which requires a fair value return on any investment by Seattle taxpayers in facilities provided for professional sports organizations.



Third, I want to ensure city services are not affected. We must maintain services to those most in need, and cannot sacrifice them. In addition, we must maintain our obligation to fund critical infrastructure. Seattle has a large volume of necessary construction projects, most notably the waterfront seawall, and limited bonding capacity. The seawall must be funded in the next few years, and will require approximately $300 million. I’ve asked city staff how this proposal would affect the City’s debt capacity, policies and construction needs.



The Council is receiving briefings on Initiative 91, and how best to calculate fair value. We must receive fair value in return for our investment, as set in Initiative 91.



Most previous arena and stadium proposals have generally focused on state funding. This proposal would rely on the use of City of Seattle credit and bonding capacity, so any potential risk would be borne by the City and its taxpayers, not the state. General obligation bonds are backed by the full faith and credit of the City of Seattle. We must determine what the appropriate level of risk is for a municipal government.



The MOU contains details that need to be fully understood. For example, one provision in the MOU would allow the investors to request that the City and County amend the terms of the MOU to facilitate financing for the private side of the deal. Presumably, this would take place after an NBA team was attained. Although the City and County could say no, this provision could result in a situation where the Council could either choose to amend the MOU and get a worse deal, or lose an already acquired team.



Under current federal tax law, a key tax benefit that accrues to NBA owners diminishes after 15 years; the “roster depreciation allowance” allows sports team owners to write off 100% of the team purchase price as a loss over 15 years. It’s therefore reasonable in considering the MOU to assume ownership may change over a 30-year time period.



I am continuing to closely scrutinize the proposal with other Councilmembers to reach a decision that can work fairly for the city, taxpayers, and the owners of any new franchise.



Videos of the meetings of the Government Performance and Finance Committee can be viewed here.



Sincerely,



Nick Licata

Just got this email from Licata.

 

[RolandDeschain]

Just got the same email, here are links to the two PDFs he linked in the email:

Link for the Memorandum of Understanding: http://www.seattle.gov/arena/docs/120516PR-MOU.pdf
Link for Interlocal Agreement between the City of Seattle and King County: http://www.seattle.gov/arena/docs/12051 ... eement.pdf

 

[chris98251]

I heard a interview with Chris Van Dyke on KJR with Ian Furness and his new podium is that the MOU doesn't meet the standards of Initative 91, and that there is no proof that the Arena will make enough money to pay down the contributions. Furness countered with would it make more then whats existing as well as is there a better idea on how the area is to be used. Van Dyke could not answer, all he could throw back is if we had a Steel Mill on the property would the City be expected to subsdize it and that at least the Steel Mill would create jobs. Furness countered with what about all the jobs that are created from the Vendors to the announcers and camera men and front office. Van Dyke again tried to dodge those as well.

These politicians skated safely at first trying to not get any one side upset due to the voters, with the emails going on I can only assume the Citizens for more important things are flooding the mail boxes as well and the desenters feel that their jobs will be safe come next election.