Unsolicited bid: XL Center

[willie99]

Great news, this will enable the state to build a much needed bus line from New Milford to Washington Depot, and help save the universe

 

[nelsonmuntz]

I think the state needs to get out of the real estate business, at least at XL. There are dozens of real estate private equity firms with money burning a hole in their pockets. Run a proper auction and get out of that building.

 

[Hoophound]

As I said earlier, the deal already offered isn’t that bad. No interest paid by the state, no principal to pay back and use of a “new” arena. They need to pin down exactly what will be done to the arena in terms of the renovation/rebuild, but overall, this is an appealing offer that can be negotiated before agreeing to a final deal. Renting isn’t always a bad thing. People get too hung up on it.

 

[whaler11]

Let’s remember UConn MBB season ticket holders already obtain their seating location by donating to the UConn Foundation.
Now whoever buys this building will use more premium seating revenue as part of their financial formula to make money.

I hope the University is protecting the UConn Donors interests because I am sure the State Government, the Connecticut Development Agency and Hartford are not. Effectively, season ticket holders will be paying two overlapping fees however it’s structured on top of the price for the seat itself. True, they may roll it up into one seat price but effectively to make it viable we will be paying two premium seating fees for the same seat on top of the ticket itself. Pretty steep.

What in the world are you taking about.

 

[auggie22]

Nope

 

[huskymedic]

Northland CEO Slams Efforts To Pursue Eminent Domain For Space Surrounding XL Center

 

[the Q]

As I said earlier, the deal already offered isn’t that bad. No interest paid by the state, no principal to pay back and use of a “new” arena. They need to pin down exactly what will be done to the arena in terms of the renovation/rebuild, but overall, this is an appealing offer that can be negotiated before agreeing to a final deal. Renting isn’t always a bad thing. People get too hung up on it.

Selling off their interests entirely is probably more ideal though, isn't it?

 

[freescooter]

from a review of the recently released indie film, Little Pink House, about Kelo -
"The Kelo case generated a massive public reaction, with over 80% of Americans opposing the ruling, and 45 states passing reform laws intended to restrict the use of eminent domain for private development. No other case united such disparate people and groups as the NAACP, libertarian property rights advocates, Ralph Nader, and Rush Limbaugh."

I have very very intimate knowledge of that deal and the public perception is very different from the reality largely because a right wing heavily funded entity bankrolled a huge prveffort vs a nearly bankrupt small city. They controlled the narrative but lost in court every time at every level. Because there was a long and solid legal tradition in favor of this. Interesting note that Suzette worked for the city of New London after the fact.

 

[whaler11]

As I said earlier, the deal already offered isn’t that bad. No interest paid by the state, no principal to pay back and use of a “new” arena. They need to pin down exactly what will be done to the arena in terms of the renovation/rebuild, but overall, this is an appealing offer that can be negotiated before agreeing to a final deal. Renting isn’t always a bad thing. People get too hung up on it.

The deal is hideous. It’s more expensive than just funding the investment themselves.

 

[CL82]

Kelo was an abomination of a decision in my view. Yet, I do think that this is a good application of current law. It kind of feels like Northland is holding the XL and the city hostage. This fixes the problem.

 

[CL82]

I have very very intimate knowledge of that deal and the public perception is very different from the reality largely because a right wing heavily funded entity bankrolled a huge prveffort vs a nearly bankrupt small city. They controlled the narrative but lost in court every time at every level. Because there was a long and solid legal tradition in favor of this. Interesting note that Suzette worked for the city of New London after the fact.

Disagree, Kelo expanded Eminent Domain to allow the government to take property from one private citizen to benefit another private citizen. Clearly that is beyond the Constitutional language. FWIW, I remotely know some of the Kelo families, believe me they weren't shill for some right wing group and, particularly early on, finding cash to fight the city was an issue.

 

[Waquoit]

This is a totally cool relationship that UConn is blessed to be involved with. This is really great. Really good for everyone. Great building.

Despite the blather, the program needs the XL. No one goes to games at Gampel, even those who bought tickets.

 

[ScottBonz]

If Northland were doing anything to invest in the real estate, then I would be more sympathetic to their case. They were a huge land owner in Hartford but that has gone way down as of recently. They can't even fix the damn escalators in the lobby. Maybe the State has some bidders lined up but the sale is predicated on sorting out the rest of the real estate.

 

[zls44]

No one goes to games at Gampel

You mean no one goes to games of sub-500 CBB teams. Gampel has always been packed for really good teams. That's why its such a pain to get to and get around in. Because people go.

TL/DR: UConn needs a new arena in Storrs

 

[CL82]

You mean no one goes to games of sub-500 CBB teams. Gampel has always been packed for really good teams. That's why its such a pain to get to and get around in. Because people go.

TL/DR: UConn needs a new arena in Storrs

Gampel is fine. Add a concourse with better food and restrooms and we're good. I believe that is on deck, after the baseball/softball/soccer complex and a new hockey rink.

 

[EdgewoodNHV]

Great news, this will enable the state to build a much needed bus line from New Milford to Washington Depot, and help save the universe

Yeah, we should probably discourage public transportation in the 4th most population-dense state in the US cause there are some rural towns.

 

[Husky25]

Let’s remember UConn MBB season ticket holders already obtain their seating location by donating to the UConn Foundation.
Now whoever buys this building will use more premium seating revenue as part of their financial formula to make money.

I hope the University is protecting the UConn Donors interests because I am sure the State Government, the Connecticut Development Agency and Hartford are not. Effectively, season ticket holders will be paying two overlapping fees however it’s structured on top of the price for the seat itself. True, they may roll it up into one seat price but effectively to make it viable we will be paying two premium seating fees for the same seat on top of the ticket itself. Pretty steep.

Other than the fact that UConn pays rent for any facility not on campus...

Executed and existing leases are generally not unilaterally renegotiated until term or unless one party is willing to give up value now for something down the road.

 

[Excalibur]

Yes, Kelo was consistent with a century of Supreme Court precedent. And what do you know, states found legislative solutions to fix a result that they didn't like, just as the Conservative justices who abandoned their intellectual honesty and dissented would normally champion.

If I were to list all of the development that would not have taken place without takings of the same nature as in the Kelo case, the boneyard would run out of bandwidth.

 

[UConnStats]

Great news, this will enable the state to build a much needed bus line from New Milford to Washington Depot, and help save the universe

Every day in my 5 mile drive from WeHa to Hartford, I manage to get stuck behind like 10 buses with like 15 total people in them. What's a couple more?

 

[YoungFree]

Can we all just do a go fund me page so that the Boneyard can own it?

Then we can call it the Boneyard....for multiple reasons.

 

[Chief00]

Every day in my 5 mile drive from WeHa to Hartford, I manage to get stuck behind like 10 buses with like 15 total people in them. What's a couple more?

So true, I think an honest research study would actually find these buses cause more air pollution and congestion. The extended fast track buses with few people in them often get caught blocking intersections when the green light turns to red.

 

[Chief00]

What in the world are you taking about.

Educate yourself.