Part XVII: Phoenix -- This Thread Title Available For Lease
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12-20-2010, 05:02 PM
Join Date: Apr 2010
Originally Posted by
Sounds a lot like the city only gets 5,000 spaces. 500 parking spots for the team? So every player and front office staff person gets about 7 spots each. Good deal. In theory that amount of parking spaces at a suburbuan Glendale mall is worth about $11 million. Sweet deal for Hulzy to get that for free!!!
It sounds like 5,000 to me, too...which doesn't make any of this prettier!
The "Fact" sheet informs us "
Glendale will purchase the right to charge for parking from the demand created by the new arena manager and the Coyotes. The fee associated with this demand will generate more than $200 million over the term of the agreement.
At the Meeting, Beasley also suggested they had to show revenues of double the amount to get the bonds.
What is required to prove that the parking payment is not disproportionate...that they can break even or that they will see a 100% profit?
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