Anyone hear this new stadium rumor

[cpatrocks]

http://www.syracuse.com/news/index.ssf/2014/01/post_984.html

You sure about that?

 

[KellySyracuse]

How do we know that bow was about to be tied? Sounds to me like this is in concept phase with most details needing to be worked out.

They had talks with a developer and SU and had already secured the money in November. For a major project to be built within the city. And they don't have the mayor involved?

"Mahoney's office, working with SU, put together a financial plan for the proposed stadium project in late November, she said. In addition to state funding, the stadium would require a large investment from the county.

Mahoney said county officials tentatively agreed to dedicate $4 million a year in county revenue to the project, and they planned to use a stadium ticket surcharge if more revenue was necessary to pay off county bonds for the stadium. Syracuse University, as the major arena tenant, also would have contributed to the cost of the stadium, she said. The Crunch hockey team was a potential tenant as well, she said."

 

[Orangepace]

http://www.syracuse.com/news/index.ssf/2014/01/post_984.html

You sure about that?

Yes, I posted after reading this article. It may take some time, but the train is moving...

 

[Orangello]

Actually the property owners in the city would be contributing money in the form of providing services to any new development.

Not necessarily. That assumes that the City assumes the costs of providing those services.

 

[KellySyracuse]

Not necessarily. That assumes that the City assumes the costs of providing those services.

well I think that's the mayor's point

 

[Orangepace]

http://www.syracuse.com/news/index.ssf/2014/01/post_984.html

You sure about that?

Why else would this all be leaked? Miner was informed on January 3rd, wrote a letter and then came out and said she's heard nothing of it when the P-S first released the story... The only reason this all leaked is to drum up support to push this along.

 

[xc84]

They had talks with a developer and SU and had already secured the money in November. For a major project to be built within the city. And they don't have the mayor involved?

"Mahoney's office, working with SU, put together a financial plan for the proposed stadium project in late November, she said. In addition to state funding, the stadium would require a large investment from the county.

Mahoney said county officials tentatively agreed to dedicate $4 million a year in county revenue to the project, and they planned to use a stadium ticket surcharge if more revenue was necessary to pay off county bonds for the stadium. Syracuse University, as the major arena tenant, also would have contributed to the cost of the stadium, she said. The Crunch hockey team was a potential tenant as well, she said."

If they have "secured the money", where is it coming from?

 

[CU44SE]

Why else would this all be leaked? Miner was informed on January 3rd, wrote a letter and then came out and said she's heard nothing of it when the P-S first released the story... The only reason this all leaked is to drum up support to push this along.

I was just writing this exact thought. People are not happy with her response and that is why it is going public now. You take the money when its there, who is to say that NYS will ever offer 200 million for this again?

 

[JeremyCuse]

Why else would this all be leaked? Miner was informed on January 3rd, wrote a letter and then came out and said she's heard nothing of it when the P-S first released the story... The only reason this all leaked is to drum up support to push this along.

It could have been leaked for dozens of reasons, with all the players involved theres no telling who what where or why. Im in favor of anything that helps Syracuse so I am fine with a new stadium but I dont get the outcry from Miner trying to get some basic answers ie "who the hell is paying for this", "where is this going", etc etc. We have some of the most well connected and intelligent people on this board and even they cant figure out where exactly a stadium that size would fit without costing millions in eminent domain and other costs.

 

[cpatrocks]

Just in case you guys would like some background on why Cuomo and Miner hate each other:

http://www.syracuse.com/news/index.ssf/2013/02/syracuse_mayor_stephanie_miner_44.html

 

[KellySyracuse]

If they have "secured the money", where is it coming from?

did you read the article?
"Onondaga County Executive Joanie Mahoney said today she has abandoned her request for as much as $200 million in state funding to build a $500 million sports arena"

"Mahoney said county officials tentatively agreed to dedicate $4 million a year in county revenue to the project, and they planned to use a stadium ticket surcharge if more revenue was necessary to pay off county bonds for the stadium. Syracuse University, as the major arena tenant, also would have contributed to the cost of the stadium, she said. The Crunch hockey team was a potential tenant as well, she said."

 

[baggerbob]

If the State, and County are going to be funding the project, don't build it in the city, the majority of the population in this area doesn't live there. You also don't need the city, screwing around every few years, because they feel they have a bad deal. The county should be the ones in charge, so find an area with lots of room, accessible to highways where you can have a lot of parking.

 

[NineOneSeven]

15 pages

 

[FAL]

I was just writing this exact thought. People are not happy with her response and that is why it is going public now. You take the money when its there, who is to say that NYS will ever offer 200 million for this again?

Where's the other $300M coming from? Sounding more and more like this project is DOA. Ask the Gov for money to revitalize the Dome's amenities a bit and be done with it.

 

[CU44SE]

It could have been leaked for dozens of reasons, with all the players involved theres no telling who what where or why. Im in favor of anything that helps Syracuse so I am fine with a new stadium but I dont get the outcry from Miner trying to get some basic answers ie "who the hell is paying for this", "where is this going", etc etc. We have some of the most well connected and intelligent people on this board and even they cant figure out where exactly a stadium that size would fit without costing millions in eminent domain and other costs.

In one of the articles, it says they have been talking about this sense November and we just happen to find out about it (Post-Standard) within a week of Miner finding out about it and not liking the idea? I think that is highly suspicious.

 

[CU44SE]

Where's the other $300M coming from? Sounding more and more like this project is DOA. Ask the Gov for money to revitalize the Dome's amenities a bit and be done with it.

You read the article? It was coming from multiple places, which were pretty much all accounted for.

 

[Noexcuse]

In one of the articles, it says they have been talking about this sense November and we just happen to find out about it (Post-Standard) within a week of Miner finding out about it and not liking the idea? I think that is highly suspicious.

They would have found out sooner but the Post Standard is only published 3 days a week now.

 

[oldpinepoint]

Where's the other $300M coming from? Sounding more and more like this project is DOA. Ask the Gov for money to revitalize the Dome's amenities a bit and be done with it.

My understanding is $200 mil from the state, chunk from county, chunk from SU and chunk from developer. Proportion unknown but if the county is talking $4mm a year in rev for the project I would guess $100m. I would think SU $50-$100MM and developer $100-$150mm

 

[xc84]

did you read the article?
"Onondaga County Executive Joanie Mahoney said today she has abandoned her request for as much as $200 million in state funding to build a $500 million sports arena"

"Mahoney said county officials tentatively agreed to dedicate $4 million a year in county revenue to the project, and they planned to use a stadium ticket surcharge if more revenue was necessary to pay off county bonds for the stadium. Syracuse University, as the major arena tenant, also would have contributed to the cost of the stadium, she said. The Crunch hockey team was a potential tenant as well, she said."

Yes, she abandoned her request. That is far from "secured". Obviously the $4M relatively trivial in the scheme of deciding to go further with the concept. In any case, if the $200M was even considered possible then Miner should be impeached. They bring her in and she just objects?!!! C'mon now.

 

[FAL]

You read the article? It was coming from multiple places, which were pretty much all accounted for.

Cripes, there have been so many articles cited today, I forgot which one you're referring to!...

 

[All4SU]

If this project is going to be done, I want it to be a huge success for everyone: The University; The City; The County... But my gut reaction right now is that if this thing has to go through Miner, it will be a disaster, in typical Syracuse style. Too little, delayed too long, with too many compromises to placate small-minded people. I sincerely hope I'm wrong. Mayor Miner is a major joke IMHO.

Things do not get done around here when City Hall gets involved.

 

[MaxwellCuse]

Yes, she abandoned her request. That is far from "secured". Obviously the $4M relatively trivial in the scheme of deciding to go further with the concept. In any case, if the $200M was even considered possible then Miner should be impeached. They bring her in and she just objects?!!! C'mon now.

The way I read that the $4M per year was to pay off bonds Onondaga County would issue to pay their share of the stadium cost. If the $4M was not enough the county would also collect on a ticket surcharge. So the two big chunks of money would come from NYS and the county bond issuance. Additional revenue would come from COR Development and SU.

 

[All4SU]

That's the kind of letter that drives me nuts. Most are obvious details that will need to be worked out, not dictated from the university to the city. Those are the details, many of which are just not known at the initial stages of a project like this. How about instead of her writing this letter she go and meet with the chancellor and they talk it over for a day so she get get some ideas on where the university thinks they would go if this project gets of the ground? How about she provide input into what she thinks is best as an answer to her own questions? Just go up there and talk to them!!!! The university is your customer!

Not only is the University her "customer", it's the best thing Syracuse has going for it right about now.

 

[xc84]

If this project is going to be done, I want it to be a huge success for everyone: The University; The City; The County... But my gut reaction right now is that if this thing has to go through Miner, it will be a disaster, in typical Syracuse style. Too little, delayed too long, with too many compromises to placate small-minded people. I sincerely hope I'm wrong. Mayor Miner is a major joke IMHO.

Things do not get done around here when City Hall gets involved.

Seriously. In this situation, you say yes to the fund request and work out the details after. I remember when the dome roof was inflated. I went out for a run and first saw the thing from the top of Lincoln Park. I'll never forget it and honestly, there has been nothing built in Syracuse since to rival the excitement, energy and national stature of the dome. This is their chance to repeat that level of success again. Damn them if they screw it up.

 

[xc84]

The way I read that the $4M per year was to pay off bonds Onondaga County would issue to pay their share of the stadium cost. If the $4M was not enough the county would also collect on a ticket surcharge. So the two big chunks of money would come from NYS and the county bond issuance. Additional revenue would come from COR Development and SU.

That could be correct but unless the base funding from the state is secure, it's not going to move forward. Without that, there is no need for a bond.