OVG asking state to defer tax replayments until after the buildings are open.

Discussion in 'Seattle' started by gstommylee, Jan 30, 2019.

  1. gstommylee

    gstommylee Registered User

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    Seattle Arena group seeks tax deferral in Olympia

    OVG is requesting the state to defer tax payments until after the 3 projects (arena, practice facility and a parking garage) are done and OVG will repay the tax back with interest after the 3 projects are open. This is quite common and the two other sports facilities did the same thing.
     
  2. gstommylee

    gstommylee Registered User

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  3. sawchuk1971

    sawchuk1971 Registered User

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    KeyArena renovation project now to exceed $900 million, with reopening pushed back

     
  4. BattleBorn

    BattleBorn Tuched In.

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    I said it in the BoH thread you started, but based on my experience with a previous expansion team that shall remain unnamed, you should definitely approach everything the ownership says with a heavy dose of skepticism. They don't know what they're doing when it comes to actual NHL hockey operations and their experience in business may make them think they can do things quickly that take longer than expected or can't be done at all.

    They're not lying, they just really don't know. The NHL world works slow and it's much more complicated than people expect.

    This goes for everything from the team starting in 2020, as we were guaranteed was going to happen prior to the expansion announcement, to owning an AHL team from day one, to getting a management team in place as soon as possible. There are a lot of things at work here, and while OVG has some experience in this world, it's not the world they normally operate within. Things are different, politics are different, logistics are different.

    Until things start happening, I suggest you treat ownership statements and reports of ownership positions as "potential" insider opinions. The way the world actually works is going to determine things, not ownership's desire to see things work the way they think it will.
     
    doublejman likes this.
  5. PCSPounder

    PCSPounder Stadium Groupie

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    You can apply this to a lot more than just the NHL.

    Different cities do so many different things with sports arenas that there's no real economy of scale to be had. No matter how I might find many of the newer arenas to be cookie cutter (and same with, say, several Major League Soccer stadiums), there are things unique to each project. It's virtually impossible to estimate timelines based on previous projects.
     
  6. SedintoHorvat

    SedintoHorvat Registered User

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    This is quite common apparently so I doubt it will cause much grief to anyone. However the uninformed will scream the rich owners are getting away without paying nonsense that some people love to spew.
     

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