BOK Center 2012

[Hoss]

You guessed it.  Projections are for it to, once again, turn a profit this year.

http://www.tulsaworld.com/news/article.aspx?subjectid=334&articleid=20120528_11_A11_TlasBK364783

[nathanm]

I'm good with only an operating profit, but how would its finances look if depreciation on the building was taken into account?

[RecycleMichael]

What is the appropriate depreciation schedule on an arena? 20 years? $180 million divided by 20 is $9 million a year.

[Red Arrow]

What is the appropriate depreciation schedule on an arena? 20 years? $180 million divided by 20 is $9 million a year.

Is depreciation necessarily linear?  I thought there were some accelerated depreciation schemes.

[sgrizzle]

I'm good with only an operating profit, but how would its finances look if depreciation on the building was taken into account?

Thank you for taking the time to dig up posts from 2008 and 2009


Other things that aren't recording a profit:
Roads
Highways
The airport
Buses
Water lines
Storm sewers
retention areas
sidewalks
city hall
streetlights

[Hoss]

If you search, you'll see that most publicly funded arenas across the country are either flat, or running in the red.

It amazes me how much people want for this to fail only to be able to tell those who voted for it 'I told you so'...even if at the end of the day, those people who voted for it have been able to say 'we told you so' over the last four years...

[nathanm]

Thank you for taking the time to dig up posts from 2008 and 2009

There is this thing, it is called curiosity. You may have heard of it. You'll be relieved to know that I consider the BOk Center worth it for its impact on downtown development as well as attracting more big name acts, which helps to draw in the sort of people we need to repopulate the city's core. It's still valuable to know what the actual cost is.

Same with all the other stuff we do. The real numbers are important, regardless of whether or not you or I think the particular service is something government should be doing.

[heironymouspasparagus]

Thank you for taking the time to dig up posts from 2008 and 2009

Other things that aren't recording a profit:
Roads
Highways
The airport
Buses
Water lines
Storm sewers
retention areas
sidewalks
city hall
streetlights

Yes, they do.  It is the sum total of economic activity in the state (GDP of the state).  If those things weren't there, then dramatically less economic activity.

And while I started out being very skeptical of the arena, since we couldn't even be bothered to keep up the one we already had, it has apparently, from the numbers been very good.  I am very happy about that.  Let's hope it continues.  And that we maintain it better than we did the Civic Center... (I know there has finally been work done on the Civic Center, now that the "sale" of the new one has been made.  Way past time.)

And someone really should look into fixing those streaks down the side!  May need some different fastening system...at least a clean crashship looks better than a dirty one.

It is still not gorgeous...looks like a crashed space ship.  Maybe all the major cities can have one when the alien invasion is thwarted by a bug placed in the mother ship control code!!  (Independence Day.)

[Teatownclown]

What is the appropriate depreciation schedule on an arena? 20 years? $180 million divided by 20 is $9 million a year.

You must be confused...do municipalities use a depreciation schedule? What for?

Total financial ROI= .00055

Nate, you want more residences downtown, assisted living. I was downtown Saturday morning and it was a ghost town. You'd think someone with an urban land degree would have stimulated the thought away from boozeries. Meanwhile, there's enough churches to build plenty of units for retiring baby boomers.

We need to start discussing opportunity costs which is the other side of the loose-government-expenditure coin.

[Red Arrow]

There is this thing, it is called curiosity. You may have heard of it.

It killed the cat.

[custosnox]

It killed the cat.

Satisfaction brought him back

[Oil Capital]

If you search, you'll see that most publicly funded arenas across the country are either flat, or running in the red.

Presumably, you have done that search.  Any chance you could throw us some links, sources, or at least examples?

Here are a couple I was able to find:  The Qwest generates about $3.5 million a year in operating profit -

Read more: http://journalstar.com/article_eef1763a-5015-11df-a2eb-001cc4c03286.html#ixzz1wEP7rnY2

As a result of Sprint Center's great success in FY09-10, we have exceeded our financial projections allowing AEG to deliver $2.1 million, representing an increase of 16% from last year's payment, to the City of Kansas City, Mo., through a profit-sharing provision in the management agreement,

Read more: http://www.kshb.com/dpp/news/local_news/sprint-center-celebrates-third-anniversary-by-earning-the-spot-as-america's-second-busiest-arena-#ixzz1wEUvHNAt

[Jeff P]

I know I'm largely preaching to the choir here, but I honestly can't believe that there is ANY debate about whether or not the BOK Center is a success.

It's a SMASHING success in any way you could measure it.

And it achieved its success largely in the worst economic downturn in 100 years.

[Conan71]

You must be confused...do municipalities use a depreciation schedule? What for?

Total financial ROI= .00055

Nate, you want more residences downtown, assisted living. I was downtown Saturday morning and it was a ghost town. You'd think someone with an urban land degree would have stimulated the thought away from boozeries. Meanwhile, there's enough churches to build plenty of units for retiring baby boomers.

We need to start discussing opportunity costs which is the other side of the loose-government-expenditure coin.

Tulsa in general is usually a ghost town on Memorial Day weekend.  It was like that everywhere.

[Jeff P]

Tulsa in general is usually a ghost town on Memorial Day weekend.  It was like that everywhere.

Not to mention, what location anywhere is generally "hopping" on a Saturday morning?