Governor Malloy Won't Push For Costly XL Center Upgrades

[IMind]

I kinda like this idea:

Developer calls for tax hike on third casino to fund XL Center, other projects

We already tax the heck out of the casinos... maybe how about we go after the other money game at the other end of the state. God forbid we tax a few hedge funds.

 

[ct06111]

We already tax the heck out of the casinos.. maybe how about we go after the other money game at the other end of the state. God forbid we tax a few hedge funds.

If the tribes really want a new casino, then the state should play hardball and make them pay a higher tax and help build the arena.
Let em get a lounge/club area in the XL named after em for cheap.

I asked at the public hearing about building a casino in the basement of XL and they help fund the arena. I think they said the casinos need 200,000+ sq feet to themselves and need 2 floors or something like that. They told me either the XL can turn into a casino and no arena or no dice on the casino idea at XL site.

 

[IMind]

If the tribes really want a new casino, then the state should play hardball and make them pay a higher tax and help build the arena.
Let em get a lounge/club area in the XL named after em for cheap.

I asked at the public hearing about building a casino in the basement of XL and they help fund the arena. I think they said the casinos need 200,000+ sq feet to themselves and need 2 floors or something like that. They told me either the XL can turn into a casino and no arena or no dice on the casino idea at XL site.

Ok we tax um both

 

[CL82]

If the tribes really want a new casino, then the state should play hardball and make them pay a higher tax and help build the arena.
Let em get a lounge/club area in the XL named after em for cheap.

I asked at the public hearing about building a casino in the basement of XL and they help fund the arena. I think they said the casinos need 200,000+ sq feet to themselves and need 2 floors or something like that. They told me either the XL can turn into a casino and no arena or no dice on the casino idea at XL site.

Actually, a casino probably wouldn't be a bad use of that extremely quirky building. That said, I would not want one in Hartford.

Everyday it seems more likely that the XL Center is on a New Haven Coliseum type path. (It is worthwhile to note that the state is chipping-in over $21-million worth of infrastructure improvements to redevelop the site along with a $12-million bond from the city of New Haven.)

 

[CTFAN4LIFE]

Actually, a casino probably wouldn't be a bad use of that extremely quirky building. That said, I would not want one in Hartford.

Everyday it seems more likely that the XL Center is on a New Haven Coliseum type path. (It is worthwhile to note that the state is chipping-in over $21-million worth of infrastructure improvements to redevelop the site along with a $12-million bond from the city of New Haven.)

Disagree - at least publicly I have only seen a few politicians come against the XL upgrade. Have you seen others coming out against it?

I think that the XL can actually turn a profit because with its size, it can bring in concerts, NCAA tournament games (both BB and hockey, neither of which it cannot now even make bids to host), in-season NCAA tournaments, and other special events. New Haven Coliseum didn't have a large capacity and wasn't situated in a place that UConn would play home games. So, it really is a different situation altogether. The point is, a renovated XL Center can be viable even without the NHL - the point that Malloy is now starting to make sure everyone understands.

 

[CL82]

Disagree - at least publicly I have only seen a few politicians come against the XL upgrade. Have you seen others coming out against it?

I think that the XL can actually turn a profit because with its size, it can bring in concerts, NCAA tournament games (both BB and hockey, neither of which it cannot now even make bids to host), in-season NCAA tournaments, and other special events. New Haven Coliseum didn't have a large capacity and wasn't situated in a place that UConn would play home games. So, it really is a different situation altogether. The point is, a renovated XL Center can be viable even without the NHL - the point that Malloy is now starting to make sure everyone understands.

I hope that you are right. It seems to me that CDRA was depending on UConn games heavily. I'm not sure that that is enough.

 

[Drew]

I hope that you are right. It seems to me that CDRA was depending on UConn games heavily. I'm not sure that that is enough.

agree with this 100%

a new arena for UConn cannot and should not be the motivation for renovating or completely rebuilding the XL Center. That motivation should be to provide an appropriate sized arena for the citizens of Hartford and the surrounding cities with modern day amenities that can attract outside events that the city is currently missing out on by having an arena in the decrepit state that the XL Center currently is in. UConn getting to play in this arena is a major SIDE benefit to building it but using UConn M/W basketball and hockey as the main reason to spend $250m-$500m on an arena that is located 30-35 minutes from the campus and knowing each basketball team only plays half their regular season games there is simply not appropriate.

The ultimate goal of spending that kind of money on a project is that it will attract year round tenants and entertainment that has been alluded to in prior posts such as tournaments, major concerts, and more. If you read through some of these articles that have been posted in this thread the XL Center is losing a majority of their potential business in these industries to the casinos with modern day facilities- that should be the main reason for building this new arena. The fact that it will be a major benefit to UConn athletics moving forward just happens to be a side benefit of the project.

 

[CardiffGiant]

I heard a state legislator on WTIC yesterday(maybe Suzio?) talking about the budget and specifically the revenue side of things (tolls, mileage tax, etc) to address the budget. In light of the deficit, it sure sounds like adding 250 mill is a tall order at this point. SO if the renovations don't get approved, what does UCONN do regarding playing future games at the XL in Bball and Hockey? Anyone know when their agreement is up?

 

[Drew]

I heard a state legislator on WTIC yesterday(maybe Suzio?) talking about the budget and specifically the revenue side of things (tolls, mileage tax, etc) to address the budget. In light of the deficit, it sure sounds like adding 250 mill is a tall order at this point. SO if the renovations don't get approved, what does UCONN do regarding playing future games at the XL in Bball and Hockey? Anyone know when their agreement is up?

following up on this, if we don't spend the $250+ million (I say + because none of these projects ever come in under budget) and the facility gets knocked down, does the state then try to add these amenities to Gampel? I know they are adding in the additional concourse for concessions and more space but some of the same issues that exist at XL exist at Gampel as well. Would it be more or less expensive to do this at Gampel?

 

[FartMan69]

following up on this, if we don't spend the $250+ million (I say + because none of these projects ever come in under budget) and the facility gets knocked down, does the state then try to add these amenities to Gampel? I know they are adding in the additional concourse for concessions and more space but some of the same issues that exist at XL exist at Gampel as well. Would it be more or less expensive to do this at Gampel?

Unless big time concert acts and a hockey team want to call Storrs, CT home then it would be 100 x more stupid to spend anything close to that on Gampel.

 

[Drew]

Unless big time concert acts and a hockey team want to call Storrs, CT home then it would be 100 x more stupid to spend anything close to that on Gampel.

right, but that doesn't mean the University should ignore the need/want for potential suites and luxury seating at Gampel. As much flack as the XL Center gets for having no luxury amenities its not like Gampel has any of that either.

 

[ct06111]

Scaled-Back XL Center Renovations Approved In Legislative Committee

40 million in 2018
30 million in 2019

vs proposed earlier
50 in 2018
75 in 2019

 

[ct06111]

Jeff Jacobs: What's It Going To Take To Save The XL — And Is It Worth It?

 

[Drew]

XL Center Attracts Just One Suitor In Bid For Private Investment

The agency that oversees the operation of the city's XL Center drew just one response after seeking out private investors willing to take on a portion of the $250 million makeover of the aging arena, easing the burden on state taxpayers.

The Capital Region Development Authority said it garnered three inquiries from investor groups and one "expression of interest" from XLR Partners, led by Washington, D.C.-based Savage Funding, a firm that specializes in assembling groups to pursue public-private partnerships.

Michael W. Freimuth, CRDA's executive director, said drawing one response was not unexpected.

"Is it disappointing? No. Would I have liked more? Yes," Freimuth said.

CRDA sought the proposals after some legislators said the state could not afford to foot the entire bill for the makeover when the state was in the midst of a budget crisis.

The response from XLR does not include a specific proposal, just a willingness to explore options. CRDA will interview XLR in the next few weeks and determine if it is feasible to move forward, Freimuth said.

In reaching out to the private sector, CRDA must balance the desire to cut public funding with how much control over the project it is willing to give up to investors.

Freimuth attributed the single response to the uncertainty that swirls around the project.

It isn't yet known how much, if any, state funds will be set aside for the project in the next two years. The legislature's finance, revenue and bonding committee backed $75 million over the next two fiscal years, half of the $125 million recommended by Gov. Dannel P. Malloy.

But whether those funds will be included in the state's capital plan for the next two years won't be known until legislators adopt a budget. It is expected a budget won't be adopted until after the start of the next fiscal year, beginning July 1.

In addition, the legislature might be required to pass a special statute because the XL Center project isn't likely to fit into the existing 2011 state law setting out the requirements for public-private partnerships.

 

[Alum86]

Yawn. Dying facility.

 

[CTBballfan243]

I think Hartford should just knock the XL center down it they aren't going to do the complete 250 million dollar upgrade. UConn can just play all it's games (except football) on campus. Fix Gampel and upgrade the hockey rink on campus to Hockey East standards and call it a day. The capacity of Gampel (10K plus) is perfectly fine for basketball. We rarely sell the place out now, so it doesn't need to get bigger. Also,we won't need a bigger arena once the P5 breakaway from the NCAA and do their own thing. Maybe add some type of concessions/food court area to Gampel because the ones they have know aren't functional.

 

[TheDoggPound]

Yawn. Dying facility.

Yawn. Dying State.

 

[TheDoggPound]

The tribes should foot the bill or at least significantly fund the renovations. Mohegan built their arena which directly competes with the XL Center for concerts/events and now they're building a convention center that will directly compete against the CT Convention Center. Those are/were some serious body blows 'dealt' by the tribes.

Also agree with IMind, post #251. Between those 2 avenues you can bridge the funding quick.

 

[Zissou]

The tribes should foot the bill or at least significantly fund the renovations. Mohegan built their arena which directly competes with the XL Center for concerts/events and now they're building a convention center that will directly compete against the CT Convention Center. Those are/were some serious body blows 'dealt' by the tribes.

Then why not make BC pay for it?

 

[CL82]

The tribes should foot the bill or at least significantly fund the renovations. Mohegan built their arena which directly competes with the XL Center for concerts/events and now they're building a convention center that will directly compete against the CT Convention Center. Those are/were some serious body blows 'dealt' by the tribes.

Also agree with IMind, post #251. Between those 2 avenues you can bridge the funding quick.

Why is it their issue? Because they compete against it? I'm having trouble seeing that logic.

 

[Padutch5]

XL Center Attracts Just One Suitor In Bid For Private Investment

The agency that oversees the operation of the city's XL Center drew just one response after seeking out private investors willing to take on a portion of the $250 million makeover of the aging arena, easing the burden on state taxpayers.

The Capital Region Development Authority said it garnered three inquiries from investor groups and one "expression of interest" from XLR Partners, led by Washington, D.C.-based Savage Funding, a firm that specializes in assembling groups to pursue public-private partnerships.

Michael W. Freimuth, CRDA's executive director, said drawing one response was not unexpected.

"Is it disappointing? No. Would I have liked more? Yes," Freimuth said.

CRDA sought the proposals after some legislators said the state could not afford to foot the entire bill for the makeover when the state was in the midst of a budget crisis.

The response from XLR does not include a specific proposal, just a willingness to explore options. CRDA will interview XLR in the next few weeks and determine if it is feasible to move forward, Freimuth said.

In reaching out to the private sector, CRDA must balance the desire to cut public funding with how much control over the project it is willing to give up to investors.

Freimuth attributed the single response to the uncertainty that swirls around the project.

It isn't yet known how much, if any, state funds will be set aside for the project in the next two years. The legislature's finance, revenue and bonding committee backed $75 million over the next two fiscal years, half of the $125 million recommended by Gov. Dannel P. Malloy.

But whether those funds will be included in the state's capital plan for the next two years won't be known until legislators adopt a budget. It is expected a budget won't be adopted until after the start of the next fiscal year, beginning July 1.

In addition, the legislature might be required to pass a special statute because the XL Center project isn't likely to fit into the existing 2011 state law setting out the requirements for public-private partnerships.

Why has no one questioned the $250 million cost of the arena . The Bridgeport Arena , in 2016 dollars, was $76 million. Granted, there should ne more seats in Hartford, but something seems out of proportion. Although when I look at the new baseball stadium for $75 million so far I guess the $250 million doesnt look to bad.
Before everyone jumps on me I have been to Bridgeport a few times and find it much better than the current XL center. Good site lines and much more user friendly.

 

[TheDoggPound]

Why is it their issue? Because they compete against it? I'm having trouble seeing that logic.

Because they're supposed to benefit the State? How is exactly is them putting the XLC out of business good for CT or the 1.2m people who live in the metro region? It's really not hard to grasp.

 

[CL82]

Because they're supposed to benefit the State? How is exactly is them putting the XLC out of business good for CT or the 1.2m people who live in the metro region? It's really not hard to grasp.

Why are they supposed to benefit the state any more that you are? They generate pay a considerable amount of taxes and generate much more. I don't see an argument that forces them to subsidize the CDRC more than that.

 

[huskymedic]

Because they're supposed to benefit the State?

I'm guessing that in their minds, the $7b they've already given the State over the past years is benefit enough...

 

[Alum86]

Pound: give it up. The Injuns owe us diddly.