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Phoenix area baseball stadium deal clears hurdle on tax plan
Representatives for county and Colangelo Suns investors reached a compromise after weeks of talks that cancelled a January vote. The agreement caps county stadium costs at 238 million in sales tax funds and 15 million borrowed, with the team paying operations. It outlines revenue sources, site layout from Central to Seventh Street, and a 45,000 seat arena with a retractable roof. The plan includes a 1 million annual base rent, variable ticket rent, and naming rights proceeds with a 1500 car garage. Local officials, including supervisor Tom Rawles, back the deal as a superior product to earlier proposals. Aimed at affordable tickets and minority hiring, the package also funds a baseball foundation for local charities.
MENTIONED IN THIS ARTICLE
Colangelo
Suns
Bill S
Sims
David Welle
Joe Duke
Olangl
Minneapolis
Phoenix Stadium
Central Avenue
Seventh Street
Jefferson
Grant Streets
Duke
Southern Pacific Railroad
Fifth
Seventh
Stadium
America West
America West Airlines
Tom Rawles
Mesa
Phoenix
Rawles