Downtown Stadium Plan by May 30th

[waterboy]

quote:Originally posted by chlfan

How about moving the Golden Driller down to the new ballpark and replacing it with a supersized QT mug at Expo Square?

Didn't we draw inspiration for the Arena from the QT coffee cup lid? The Driller with his new shirt would certainly complement that iconic status.

[PonderInc]

Latest from the Tulsa World on the stadium:

"The creation of a Tulsa Stadium Improvement District, the first step toward securing funding for a downtown ballpark, is being considered, Mayor Kathy Taylor said Tuesday.

"The district would allow for a 6 1/2 -cent assessment per square foot to be collected annually on commercial real estate within the Inner Dispersal Loop.

"The district would replace the city's current Downtown Tulsa Improvement District, which was adopted nearly 30 years ago and is set to expire June 30, 2009."

Isn't the "Downtown Improvement District" the thing that funds DTU?  Would this change put the money in the control of some other, more appropriate, entity?  

Public hearning July 10 at the City Council meeting.  

Here's the  TW article.

[Wrinkle]

Since DT is suffering from near 30% vacancy rates, if economics are set based upon that, then when that situation improves, the City makes a lot more money.

Where would that money go?

[Renaissance]

quote:Originally posted by Wrinkle


Since DT is suffering from near 30% vacancy rates, if economics are set based upon that, then when that situation improves, the City makes a lot more money.

Where would that money go?

The article states:

quote:

Officials estimate that the assessment would raise at least an amount equal  
to the $1.1 million currently collected annually for downtown services and would still be allocated for such services.

The remainder, estimated at $25 million over 30 years, would help finance the ballpark.

* * *

Taylor said a new trust would be created for the stadium, with the city being its sole beneficiary. The trust would have the ability to fund the project in advance, with the assessment fees used to repay the debt, she said.  

Sounds to me like like Downtown Tulsa Unlimited is getting replaced with a trust, which would have a fiduciary duty to handle the same duties as DTU currently does as well pay off the stadium debt as expeditiously as possible.

So it's really a TIF on all of downtown--whatever increase occurs in revenue with the IDL will be used to service stadium debt and provide downtown services such as street beautification, promotions, etc.

[Wrinkle]

quote:Originally posted by Floyd

quote:Originally posted by Wrinkle


Since DT is suffering from near 30% vacancy rates, if economics are set based upon that, then when that situation improves, the City makes a lot more money.

Where would that money go?

The article states:

quote:

Officials estimate that the assessment would raise at least an amount equal  
to the $1.1 million currently collected annually for downtown services and would still be allocated for such services.

The remainder, estimated at $25 million over 30 years, would help finance the ballpark.

* * *

Taylor said a new trust would be created for the stadium, with the city being its sole beneficiary. The trust would have the ability to fund the project in advance, with the assessment fees used to repay the debt, she said.  

Sounds to me like like Downtown Tulsa Unlimited is getting replaced with a trust, which would have a fiduciary duty to handle the same duties as DTU currently does as well pay off the stadium debt as expeditiously as possible.

So it's really a TIF on all of downtown--whatever increase occurs in revenue with the IDL will be used to service stadium debt and provide downtown services such as street beautification, promotions, etc.

Off the cuff, if my 30% vacancy is about right, the current rate would raise about $2 million/year, but with 100% occupancy would increase by 50% to around $3 million/year.

If the approx $1 million per year in extra funds would pay off $30 million in 30 years, then another $1 million per year could double that amount, all while still putting $1 million per year into former DTU responsibilities.

Won't happen overnight, of course. But, large amounts of funds should be addressed.

[sgrizzle]

quote:Originally posted by PonderInc

Latest from the Tulsa World on the stadium:

"The creation of a Tulsa Stadium Improvement District, the first step toward securing funding for a downtown ballpark, is being considered, Mayor Kathy Taylor said Tuesday.

"The district would allow for a 6 1/2 -cent assessment per square foot to be collected annually on commercial real estate within the Inner Dispersal Loop.

"The district would replace the city's current Downtown Tulsa Improvement District, which was adopted nearly 30 years ago and is set to expire June 30, 2009."

Isn't the "Downtown Improvement District" the thing that funds DTU?  Would this change put the money in the control of some other, more appropriate, entity?  

Public hearning July 10 at the City Council meeting.  

Here's the  TW article.

Somebody pinch me.

[Renaissance]

quote:Originally posted by sgrizzle

quote:Originally posted by PonderInc

Latest from the Tulsa World on the stadium:

"The creation of a Tulsa Stadium Improvement District, the first step toward securing funding for a downtown ballpark, is being considered, Mayor Kathy Taylor said Tuesday.

"The district would allow for a 6 1/2 -cent assessment per square foot to be collected annually on commercial real estate within the Inner Dispersal Loop.

"The district would replace the city's current Downtown Tulsa Improvement District, which was adopted nearly 30 years ago and is set to expire June 30, 2009."

Isn't the "Downtown Improvement District" the thing that funds DTU?  Would this change put the money in the control of some other, more appropriate, entity?  

Public hearning July 10 at the City Council meeting.  

Here's the  TW article.

Somebody pinch me.

Yeah, I think everyone's just kind of watching, jaws slightly dropped, happily stunned.  For the longest time I was completely unimpressed, but "Da Mare" keeps impressing me.  I think she's learning on the job.

[TheArtist]

Well everyone knows I have been a fan and have had high hopes. Not everything has gone well for what she, or I, have wanted "RIVER cough", but she just keeps on trucking and coming up with creative, out of the box, ideas that suprise even me.

[swake]

So, here is a photo of the mockup of the new baseball stadium downtown.



http://www.tulsaworld.com/opinion/article.aspx?articleID=20080623_61_A11_hEDITO230061

This seems to place the stadium at 1st and Lansing, but with the stands pointed away from downtown. Great location, bad orientation.

What do you think?

[Renaissance]

a) Anyone on the berm seating will have views of downtown.

b) The view of the stands with the buildings rising behind them will be that much more picturesque--a batter in the box, stands full, pitcher winding up, and the skyline in the backgound.

c) If I'm recalling what Lamson wanted, it included a broad concourse surrounding the stadium for family events, etc.  The views from this concourse will naturally include the skyline.

That's my quick, glass half full take.

EDIT: Sorry, should have caught this before--that photograph is old. The rendering the mayor is pointing to is of the East End location. It doesn't represent the current Brady orientation. But my points about ballpark orientation still stand.

[joiei]

After doing some google map comparing, what I see as the street surrounding the proposed ball park are 4th and 6th and Frankfort and Lansing.  Isn't that one of the original areas you all talked about.  

If you reoriented the park to downtown views it would get all that afternoon sun right into the eyes of the players and the fans.

[sgrizzle]

Yes as stated before, that is a several months old sketch done by Jack Crowley on his kitchen table for IF the stadium went to the East End.

[tillyato]

This picture is posted on a City of Tulsa website Q&A about the Downtown Ballpark Assessment in the works:



Looks like the Greenwood/Brady District location. It also mentions that their will be a Q&A about the assessment district on June 27 at 7:30 a.m., held during breakfast at the Summit Club. Seems like they are getting pretty close to announcing some specifics on the stadium plans!

[Renaissance]

Nice find.

I gotta wonder what this means for the renewal of the Brady District TIF.  It pretty much failed the first go-round, at least as far as raising cash was concerned.  But now with actual business relocations and an impending baseball stadium, it seems like it would be quite successful.  But would it be necessary, given that the growth is already happening?  Would the growth continue without it?

[TulsaSooner]

The Brady Village TIF business owners are expected to ask the Council to extend the TIF 10 years to the 25 year limit allowed by the state.  It was discussed in last week's Council meeting in a report on all of the TIF districts.  The Councilors seemed agreeable.  There was an article about that report in Sunday's paper, I believe.