Whileee wrote:
"As I understand it, the CFD revenues don't come to the City of Glendale, so any additional CFD revenue would be in addition to the $197 million for Hulsizer, I suppose. Let's hope Hulsizer doesn't catch wind of this option."
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AIUI the CFD was created only with language that it encompassed city-owned land around the arena. Proceeds the district could generate were not earmarked to any outside entity in the motion to create.
One could argue it was implied as the CFD was created after the City signed its MOU with Reinsdorf, but without specific language in the motion I don't think that argument holds up. And there is nothing about a CFD in the Hulsizer deal. But the CFD was approved by the Council, and I see no reason the City cannot go forward with it now or in the future.
If pressed about what those "future" revenue streams the city could create or have access to, the CFD is certainly one that could be named.
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Fugu wrote:
"Don't forget the arena management fee.
I think I could figure out how to manage an arena if that much money was involved.
I think Hulsizer and I would have the same amount of experience managing arenas at the outset as well."
I essentially responded Hulsizer, Fugu or I would have no intention of running the arena, so who cares what experience any of us had? To which...
Fugu wrote:
"You think if someone offered me $97m over 6 yrs to manage an arena I'd say no? I have as much experience as Hulsizer in arena mgt, so I too would hire some people to do it for me. Only I'd do it in a much more fiscally responsible fashion so that the real cost of managing an arena would be far less than the sum given to me.
"Oh gee..... ya think managing an arena could be subcontracted and done for far less than $100m for six years?"
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So not sure why our esteemed moderator even responded as we seem to be in total agreement. Unless it was a desire to have the last word.
Moving on.