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As Tempe City Council prepares to discuss Coyotes’ proposed arena, here’s what you need to know
JUNE 2, 2022
The proposal
The Coyotes have proposed a $1.7-billion development that includes a hockey arena, hotels, apartments, retail stores and a sports book. The team says that the project would be privately financed, although it hopes to use a portion of city sales tax revenue generated by the development to help pay for $200 million in additional costs.
The Coyotes would need to remove an estimated 1.5 million tons of trash from the site, which is currently a city dump. The team would then need to remediate the site before construction begins at a cost of approximately $70 million. The team would pay $40 million for the east parcel cleanup and commit $8 million toward remediation of the west parcel, with the remaining costs paid through bonds. The bonds would also pay for such infrastructure as electric lines, water lines, sewer lines, roads and a parking garage at the northeast corner of the property that would be owned and operated by the city
The team says that the project could generate $154 million in new taxes for the city over a 30-year period, with $5.9 billion in direct spending in the city and 6,900 permanent jobs created.
Entire article: https://www.gophnx.com/2022/06/02/a...yotes)-,The proposal,stores and a sports book.
Coyotes' proposed new arena in Tempe sent to public vote
A proposed deal for the Arizona Coyotes' new arena will go to a public vote.
The Tempe City Council voted unanimously on Thursday night to send a proposed arena and entertainment district to referendum in May.
The city council must approve a development and disposition agreement, a general plan amendment and a zoning amendment before the May 16 special election can take place.
Entire article: https://www.espn.com/nhl/story/_/id/34999369/coyotes-proposed-new-arena-tempe-sent-public-vote
JUNE 2, 2022
The proposal
The Coyotes have proposed a $1.7-billion development that includes a hockey arena, hotels, apartments, retail stores and a sports book. The team says that the project would be privately financed, although it hopes to use a portion of city sales tax revenue generated by the development to help pay for $200 million in additional costs.
The Coyotes would need to remove an estimated 1.5 million tons of trash from the site, which is currently a city dump. The team would then need to remediate the site before construction begins at a cost of approximately $70 million. The team would pay $40 million for the east parcel cleanup and commit $8 million toward remediation of the west parcel, with the remaining costs paid through bonds. The bonds would also pay for such infrastructure as electric lines, water lines, sewer lines, roads and a parking garage at the northeast corner of the property that would be owned and operated by the city
The team says that the project could generate $154 million in new taxes for the city over a 30-year period, with $5.9 billion in direct spending in the city and 6,900 permanent jobs created.
Entire article: https://www.gophnx.com/2022/06/02/a...yotes)-,The proposal,stores and a sports book.
Coyotes' proposed new arena in Tempe sent to public vote
A proposed deal for the Arizona Coyotes' new arena will go to a public vote.
The Tempe City Council voted unanimously on Thursday night to send a proposed arena and entertainment district to referendum in May.
The city council must approve a development and disposition agreement, a general plan amendment and a zoning amendment before the May 16 special election can take place.
Entire article: https://www.espn.com/nhl/story/_/id/34999369/coyotes-proposed-new-arena-tempe-sent-public-vote
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