Downtown Stadium Plan by May 30th

[dsjeffries]

quote:Originally posted by hoodlum

I made it to the TYpros event last night.

I was pleasntly suprised by what I felt was the true possibility that this ball field is going to happen.

He mentioned somehting along the lines that as things were progressing they would like to break ground in the last quarter of this year.

I was happily shocked by this.

he answered several questions about the financing of the project which will involve 100% private funds.

overall he really professed his commitment to being a part of downtown revitalization and thought that the drillers could be a catalyst for that revitalization.

Fantastic news!

I wonder who the magical, private donor is... Only so I can thank them!  Let's get this thing built!!!

[Wrinkle]

The ONLY way this park will get built is by private funding. Though, it's hard to tell what back-door deals are happening.

We're just the public. Keep repeating it.

[sgrizzle]

I can't imagine any public project being 100% private funded. I would be we will see a lot of future projects be like the river is, some sort of split 50/50, 70/30, etc.

[TheArtist]

I have a feeling that we are all going to be pleasantly suprised by this project.

[AVERAGE JOE]

quote:Originally posted by TheArtist

I have a feeling that we are all going to be pleasantly suprised by this project.

+1

[swake]

quote:Originally posted by hoodlum

I made it to the TYpros event last night.

I was pleasntly suprised by what I felt was the true possibility that this ball field is going to happen.

He mentioned somehting along the lines that as things were progressing they would like to break ground in the last quarter of this year.

I was happily shocked by this.

he answered several questions about the financing of the project which will involve 100% private funds.

overall he really professed his commitment to being a part of downtown revitalization and thought that the drillers could be a catalyst for that revitalization.

That is very encouraging, but 100% private financing is not the same thing as 100% private funding. I don't see someone donating $70 million for a new stadium. I don't really think that would be the best use funds donated to the community anyway. How about a new central library instead?

This actually sounds like someone is going to float a loan for the city for a stadium, like what the River District is wanting to do in Jenks.

This sounds like a TIF is coming, but there are no current plans for any new development in the area that would provide the new tax revenue needed to create a TIF. So, is this area really going to be developed on a larger scale than just a stadium? Is there something real in the works with real funding? This is what I have been asking, there's a big funding gap in what has been talked about. A TIF on a big new East End development would be able to close that gap. So, does anyone know something about what is going on? Is there a real plan or is this just another weak proposal soon to be forgotten.

Joe, you are hinting that you know something. What is it?

[PonderInc]

I am confident that if a stadium goes into the East End, other developments will follow like lightning.  It's the area of downtown with the most potential for all different sorts of developments...residential, retail, entertainment...and plenty of space (including some cool old buildings) to do it.

[jackbristow]

quote:Originally posted by TheArtist

Your absolutely right " however I might take a bit of exception to the ignorant and have no clue part" Those are some other great companies we have in town. And lets not forget Henry Zarrow, Helmerich, Schusterman... They do so many great things for our city and you see their names on many buildings. However, a lot of those folks are getting up there in years, who is going to replace them when they are gone? Whats the next company headquarter, the next big donor? I was mostly saying that because of other discussions on here where people dont often seem to understand the imprortance of having Headquarter Corporations here and what that can do for a city. Supporting good local small companies which can hopefully expand and become the next large corporation that will give back to the city. And yes the importance of creating a city where companies may want to move their headquarters to and indeed doing some little extra things to make sure they stay if at all possible. Its the company that has its headquarters here from which you get those huge donations. The profits from elsewhere come to Tulsa. Otherwise the profits leave the city and go to pay for nice stuff in other cities. I remember reading that TI gave half a billion dollars to a college there in Texas. Thats a lot! I wish we had more companies like that. No matter how much gas you buy at Total or some other station, they are not going to donate here like QT will, nor Mc Donalds or some other company located somewhere else.

If you want nice things for your city, you have to have headquarters located there, or at least a major presence, otherwise your just working and existing while others get the extra stuff.  

Seems lately that BOK and QT have been in the headlines with big donations to a lot of things. Kaiser/BOK buying up properties, doing the river trail, leasing out some of the building that will be the new City Hall to make that viable, the Arena, the Mathews building and other projects downtown, etc, etc. QT doing the new park, new development on Brookside where the Camelot was, the QT center at the fairgrounds, etc. etc.  Though I am sure the names you listed donate to local charities, and support events and other things, just like Kaiser and QT, I would hope that we also see some "named things" type donations from those other companies as well.

What are some of the public, city, things they have donated to or helped build?

Sorry for coming across in a harsh manner.  You are obviously more schooled in the history and current condition of things in Tulsa than I am.  I was just pointing out that there are other companies in town who have major headquarters here that "could" do things similar to what BOK and QT have done recently.

One thing that comes to mind is the SemGroup Championship LPGA golf tournament.

[CoffeeBean]

Kasier?

[AVERAGE JOE]

quote:Originally posted by swake

Joe, you are hinting that you know something. What is it?

Just a high degree of confidence in this project.

[TheArtist]

quote:Originally posted by swake

quote:Originally posted by hoodlum

I made it to the TYpros event last night.

I was pleasntly suprised by what I felt was the true possibility that this ball field is going to happen.

He mentioned somehting along the lines that as things were progressing they would like to break ground in the last quarter of this year.

I was happily shocked by this.

he answered several questions about the financing of the project which will involve 100% private funds.

overall he really professed his commitment to being a part of downtown revitalization and thought that the drillers could be a catalyst for that revitalization.

That is very encouraging, but 100% private financing is not the same thing as 100% private funding. I don't see someone donating $70 million for a new stadium. I don't really think that would be the best use funds donated to the community anyway. How about a new central library instead?

This actually sounds like someone is going to float a loan for the city for a stadium, like what the River District is wanting to do in Jenks.

This sounds like a TIF is coming, but there are no current plans for any new development in the area that would provide the new tax revenue needed to create a TIF. So, is this area really going to be developed on a larger scale than just a stadium? Is there something real in the works with real funding? This is what I have been asking, there's a big funding gap in what has been talked about. A TIF on a big new East End development would be able to close that gap. So, does anyone know something about what is going on? Is there a real plan or is this just another weak proposal soon to be forgotten.

Joe, you are hinting that you know something. What is it?

I know soooomething youuuu doooont,,, but I cant say anything, na, naaa, na na na.[]

[Renaissance]

quote:Originally posted by AVERAGE JOE

quote:Originally posted by swake

Joe, you are hinting that you know something. What is it?

Just a high degree of confidence in this project.

I have no information whatsoever, but Lamson's demeanor (to me, at least) is quite telling.  From the start, he has been proceeding as though the ballpark were a done deal.  This could be posturing, but if so, it's awfully well done.

[USRufnex]

Hmmm... privately financed or privately funded?
TIF? or not?

If you're wondering why the Drillers don't want to pay for any of the stadium's costs themselves, well... here's a soccer-centric guy's sad story of political compromises in using stadium construction as urban renewal...

http://www.democratandchronicle.com/apps/pbcs.dll/article?AID=/20080129/NEWS01/801290344/1002/NEWS

Rhinos could lose stadium
City considers takeover as bank sues for $10.8 million in past-due loans

Citing a newly filed lawsuit claiming that the Rochester Rhinos organization defaulted on nearly $11 million in bank loans, city officials said Monday that they are contemplating steps to take over PAETEC Park.

The city already has met with a potential investor who the professional soccer franchise hopes will bail it out. Or the Rhinos' bankers could step in and operate the team.

Whatever happens, city officials say, the goal is to ensure that the stadium is a financially viable home for pro sports. But time is running out and options diminishing as more becomes known about what Mayor Robert Duffy calls "a total financial mess."

The Rhinos are scheduled to open their 2008 season May 2........

[USRufnex]

The devil's always in the details... ummm.... it'd be nice to get a few details before the end of May.... hint, hint...

Rochester, New York's Triple-A ballpark, Frontier Field, built in 1996 with a seating capacity of 10,868...

http://pressboxpowertrip.blogspot.com/2007/10/gop-machine-and-frontier-field.html

quote:Frontier Field loses money every year. Always has. Always will. And, Frey says, that's not uncommon — the majority of sports stadiums never break even.

But way back in the 1990s, when the Red Wings were pushing for a new stadium, then-county executive Bob King stated publicly that yes indeed, this new baseball park WILL be self-sufficient. It won't lose money.

------------------------------------------------

So every year, there's $1.8 million in debt service that's dragging on Frontier Field's operating budget. That's why the stadium loses money every year. (Meanwhile, the stadium's main tenant, Rochester Community Baseball, i.e. the Red Wings, turns hundreds of thousands of dollars in profit each year.)

OK, so, the $1.8 million that goes unpaid and puts Frontier Field in the red every year, SOMEONE has to take care of that, right? I mean, the holders of the bonds have to get paid, don't they?

Of course. That's why Monroe County itself subsidizes Frontier Field by taking care of that $1.8 million. And where does that $1.8 million come from? You got it: taxpayers.

This has all been brought out before. However, it needs to be repeated every once in a while, because it's not going to go away. According to Frey, taxpayers will be subsidizing Frontier Field forever.

How much does it cost to run Frontier Field?

http://pressboxpowertrip.blogspot.com/2007/10/how-much-does-it-cost-to-run-frontier.html

quote:...why does the Sports Authority — a public body — apparently have nearly $600,000 in assets while the taxpayers of Monroe County are still paying $1.8 million a year (at last count) for the debt service on Frontier Field?

While I'm thinking of it, where exactly DOES all that debt service figure into these financial equations anyway? And will the taxpayers have to pay it off forever?

We might never get a completely straight answer to any of these questions.

[perspicuity85]

Ruf,

I think the comparison to Rochester may not be applicable here.  Rochester's MSA has been losing population for over a decade.  I'm not talking about the city of Rochester, I'm talking about the entire metro area.  There is certainly some negative economic forces at play in that area- I'm guessing a large loss in manufacturing-sector jobs.  Rochester has a lagging local economy and is not known for tourism.  It is much smaller(about 1 million MSA) than other traditional industrial cities such as Pittsburgh or Detroit, who have been able to utilize their large population base and national importance to lessen the effects of a downturn in the manufacturing sector.  Post- oil bust and post comm-bust Tulsa is much much better off than Rochester.  Tulsa's economy and population will probably support a baseball stadium much better than Rochester.