Sonics/NHL/New arena thread

[Glasgow Seahawk]

Chris Daniels just tweeted that both Key arena plans will require public funds.

 

[randomation]

Then neither should be accepted it's pretty damn simple

 

[Sports Hernia]

Then neither should be accepted it's pretty damn simple

Agree, but that's using common sense.

 

[Maulbert]

Murray wants the city to own the arena. That's the reason he's pushing these asinine plans.

 

[Hawkscanner]

I've followed this whole arena saga fairly closely since the news first broke about Chris Hansen clear back in 2011 IIRC. The sad thing is that regardless of whatever concern the Seattle City Council and the local politicians have thrown out there (funding, traffic issues, environmental impacts, etc.) ... to me this has ALWAYS been about Key Arena. It's never truly been about anything else. The SCC and the local politicians what they have truly wanted is for Key Arena to be remodeled. Period. It doesn't matter if Hansen's plan is the better plan (IMO it certainly is). It doesn't matter if the Sodo site is the better site (IMO it IS). How Hansen chose to deal with the Key Arena issue will turn out to be the death knell for him and his group IMO. It all comes down to the fact that the local politicians have always WANTED it to be at Key Arena. In their minds, it's always been that cherished historical monument that they wanted preserved and restored. And if you truly doubt that's the case, look no further than recent events. New groups come in who say Key Arena is do-able ... and all of the sudden the portcullis goes up ... the draw bridge goes down ... and the wheels of progress that have seemingly been rusted solid for years mysteriously start to shift into overdrive. Though part of me doesn't care and just wants to see the return of the NBA and for the NHL to come to Seattle ... the other part wishes it could all happen at a state of the art brand new Sodo Arena rather than a Key Arena that's probably just going to be remodeled again 10 years after it's built.

 

[Sgt. Largent]

Chris Daniels just tweeted that both Key arena plans will require public funds.

In bonds, which means the city can not only get their bond money back, but with interest.

The Times and TV stations did this same thing with Hansen when he said he needed the city to throw in the original 200-250M...........they make it some nefarious "gotcha!" thing.

The bond mechanism isn't a bad thing, that's all that means. btw, don't you think the city, mayor and councils that are being a pain in everyone's ass by asking for some investor to come in and pay for EVERYTHING when the Key is still going to be a city owned property should have some skin in the game?

"We want you to pay for everything, but we control the design, when it happens, where it happens..........and we still want to own it and reap all the revenue!"

Here's an article explaining how the bond process works for things like new stadiums, etc.

http://budgeting.thenest.com/municipal- ... -4306.html

 

[DJrmb]

Chris Daniels just tweeted that both Key arena plans will require public funds.

In bonds, which means the city can not only get their bond money back, but with interest.

The Times and TV stations did this same thing with Hansen when he said he needed the city to throw in the original 200-250M...........they make it some nefarious "gotcha!" thing.

The bond mechanism isn't a bad thing, that's all that means. btw, don't you think the city, mayor and councils that are being a pain in everyone's ass by asking for some investor to come in and pay for EVERYTHING when the Key is still going to be a city owned property should have some skin in the game?

"We want you to pay for everything, but we control the design, when it happens, where it happens..........and we still want to own it and reap all the revenue!"

Here's an article explaining how the bond process works for things like new stadiums, etc.

http://budgeting.thenest.com/municipal- ... -4306.html

Reportedly there are a ton of hidden costs that ultimately makes bonds a bad investment for city's losing them millions and millions of tax dollars by the bonds completion. That's why it was a sticking point with Hansen's proposal before and why the mayor suggested he get it fully funded privately. Here is an article that talks about that:

http://www.seattletimes.com/sports/...ch-as-sodo-arena-has-hidden-costs-study-says/

 

[gowazzu02]

This whole thing makes me want to puke. I honestly can't read this stuff without getting angry. Not good for my health, or my dog. lol jk

 

[Sgt. Largent]

Reportedly there are a ton of hidden costs that ultimately makes bonds a bad investment for city's losing them millions and millions of tax dollars by the bonds completion. That's why it was a sticking point with Hansen's proposal before and why the mayor suggested he get it fully funded privately. Here is an article that talks about that:

http://www.seattletimes.com/sports/...ch-as-sodo-arena-has-hidden-costs-study-says/

This is true for the SODO project because Hansen wants to own everything, so Baker's article is correct there isn't much reason for a city to throw in bond money when they're not going to be around to reap the benefits of the facility, team, etc (other than the property taxes, sales taxes, etc.)

But the city owns Key, that's my point. If they want to reap all the tax revenue and landlord benefits of a brand new arena and surrounding area, don't you think they should have some vested interest in the project? That's not unreasonable to me.

And bonds, even with the risks IMO is still the best way to pay for it. Rather than another hotel, gas or sales tax that we all have to pay for.

Bottom line, there's always risk with how you fund things. But I'm fine with the city having to pony up some money if they want to continue to own Key and reap all the revenue benefits.

 

[hawkcrazzed]

Reportedly there are a ton of hidden costs that ultimately makes bonds a bad investment for city's losing them millions and millions of tax dollars by the bonds completion. That's why it was a sticking point with Hansen's proposal before and why the mayor suggested he get it fully funded privately. Here is an article that talks about that:

http://www.seattletimes.com/sports/...ch-as-sodo-arena-has-hidden-costs-study-says/

This is true for the SODO project because Hansen wants to own everything, so Baker's article is correct there isn't much reason for a city to throw in bond money when they're not going to be around to reap the benefits of the facility, team, etc (other than the property taxes, sales taxes, etc.)

But the city owns Key, that's my point. If they want to reap all the tax revenue and landlord benefits of a brand new arena and surrounding area, don't you think they should have some vested interest in the project? That's not unreasonable to me.

And bonds, even with the risks IMO is still the best way to pay for it. Rather than another hotel, gas or sales tax that we all have to pay for.

Bottom line, there's always risk with how you fund things. But I'm fine with the city having to pony up some money if they want to continue to own Key and reap all the revenue benefits.

So real question what if the leagues say no to key and its a big concert theater what then cause it sounds like that's where its headed

 

[Sports Hernia]

The only "good" thing is I think CH has the resolve to outlast the current politicians. They only need one more vote and a "friendly" mayor to the project. The old mayor who is now running (name escapes me at the moment) said he wants the Sodo Arena to happen.

 

[Sgt. Largent]

The only "good" thing is I think CH has the resolve to outlast the current politicians. They only need one more vote and a "friendly" mayor to the project. The old mayor who is now running (name escapes me at the moment) said he wants the Sodo Arena to happen.

You're right, but IMO this vote is going to happen in June or July approving one of these Key developers.......so it's going to be too late for him to garner support in November when council seats and the mayor are possibly are gone.

 

[randomation]

The NBA isn't going to accept Key in any form they will have their own people do their due diligence and it will tell them there is no way in hell that area can support the parking needed and that it's a pain in the ass to get to. Same thing with the NHL if Hansen had a street vacation in hand I would bet he has teams promised within a month because the Sodo arena is in the right spot hits all the boxes and the nba and nhl both want to be in Seattle. Unless the city is buying the teams good luck with getting an owner okay with paying to be a tenant.

 

[Sports Hernia]

The only "good" thing is I think CH has the resolve to outlast the current politicians. They only need one more vote and a "friendly" mayor to the project. The old mayor who is now running (name escapes me at the moment) said he wants the Sodo Arena to happen.

You're right, but IMO this vote is going to happen in June or July approving one of these Key developers.......so it's going to be too late for him to garner support in November when council seats and the mayor are possibly are gone.

True.

 

[twisted_steel2]

Hey Stolen Thunder....

 

[twisted_steel2]

If anyone is still following this,

SodoArena update, with video.

http://www.sonicsarena.com/2017/05/sodo ... t-updates/

On April 6, The Seattle Design Commission approved the urban design and public benefit of the proposed SoDo Arena and recommended the conditional street vacation of a one block segment of Occidental Avenue South be approved by the Seattle City Council.

This video is a condensed version of our presentation to the Design Commission, highlighting how the new proposal addressess the concerns raised by the Seattle City Council, including additional public benefits, mobility improvements for the Seattle freight community, and importantly, the SoDo Arena project is now 100% privately funded.

The next step is for the Seattle City Council to vote on the street vacation. If approved, we stand ready to get to work bringing the Sonics and the NHL back to Seattle!

 

[Sgt. Largent]

Why would the council now vote yes on the street vacation?

They didn't approve it last year, seems like they'd be even more against it this year when they're in the middle of arguing over which of the two gigantic Key developers they're going to let develop Key for practically free.

 

[chris98251]

I would really love to see Hansen buy the NBA team go to the Key after remodel and say it's not a NBA Arena, say unless we have a new arena he is moving the team to Bellevue.

 

[CPHawk]

I was just down at the Seattle center on Sunday, and anyone wanting to keep the arena in that area has no frickin clue. There's zero parking, and at least half the fans will have to walk 15-20 minutes to games, which sucks when it's raining and dark. Put it in sodo, tell the port to F themselves and let's move on with our lives. The fan experience would be so much better in SODO.

 

[Sgt. Largent]

I was just down at the Seattle center on Sunday, and anyone wanting to keep the arena in that area has no frickin clue. There's zero parking, and at least half the fans will have to walk 15-20 minutes to games, which sucks when it's raining and dark. Put it in sodo, tell the port to F themselves and let's move on with our lives. The fan experience would be so much better in SODO.

I don't know one person who doesn't feel this way...........but ain't gonna happen.

Our idiot politicians are going to get their way and have someone else rebuild Key so they can all stand outside during the ribbon cutting ceremony pulling their shoulder muscles patting themselves on the back.