06-04-2010, 09:53 AM
It is sounding more and more like it is a done deal. I also find the final two blurbs ironic because the Sox and others, again, were the biggest crusaders against local efforts, yet the were able to push tax and fee increases through to publicly fund their facilities in Glendale and Scottsdale.
http://www.azcentral.com/arizonarepublic/n...inance0604.html
<!--quoteo-->QUOTE <!--quotec-->Mesa plans to use 11,000 acres of farmland it owns in Pinal County to obtain financing.
"We want to make it very clear: Mesa will deliver on the stadium," City Manager Chris Brady said. "At the end of the day, everything gets built. We have the financial plan to make that happen."<!--QuoteEnd--><!--QuoteEEnd-->
<!--quoteo-->QUOTE <!--quotec-->The team and the city have a history that goes back more than 50 years, but the clock is ticking for a deal. Earlier this year, the Cubs agreed to an exclusive negotiating agreement with Mesa, keeping the Florida suitors at bay and giving the city until July 12 to come up with a way to finance the new training facility.
Mesa bought the Pinal County farmland 25 years ago for its water rights, but with water available from other sources, the land is no longer needed. So, the city could gradually sell off the property as market prices improve and use the money to pay off stadium loans.
Mayor Scott Smith said he still hopes legislation will emerge during next year's session to fix cracks emerging in the Cactus League's financial underpinnings.<!--QuoteEnd--><!--QuoteEEnd-->
<!--quoteo-->QUOTE <!--quotec-->Smith said Mesa will not ask voters in November to approve bonds to pay for the city's share of the project but will rely on funding secured from the value of the farmland, which is near Coolidge.
<b>However, voters will be asked to approve an increase in the bed tax to 5 percent from 3 percent, bringing it in line with recent hikes in Scottsdale and Tempe.</b> The $1 million increase in projected annual revenue from the bed tax would be applied toward stadium construction.
Mesa's city charter requires voters to approve any expenditure on a sports facility of more than $1.5 million, so a second ballot question will appear in November. The City Council would need to vote to put such a referendum on the ballot.
The Cubs have been asking for new training facilities since Glendale and Goodyear built state-of-the art stadiums and practice complexes.<!--QuoteEnd--><!--QuoteEEnd-->
http://www.azcentral.com/arizonarepublic/n...inance0604.html
<!--quoteo-->QUOTE <!--quotec-->Mesa plans to use 11,000 acres of farmland it owns in Pinal County to obtain financing.
"We want to make it very clear: Mesa will deliver on the stadium," City Manager Chris Brady said. "At the end of the day, everything gets built. We have the financial plan to make that happen."<!--QuoteEnd--><!--QuoteEEnd-->
<!--quoteo-->QUOTE <!--quotec-->The team and the city have a history that goes back more than 50 years, but the clock is ticking for a deal. Earlier this year, the Cubs agreed to an exclusive negotiating agreement with Mesa, keeping the Florida suitors at bay and giving the city until July 12 to come up with a way to finance the new training facility.
Mesa bought the Pinal County farmland 25 years ago for its water rights, but with water available from other sources, the land is no longer needed. So, the city could gradually sell off the property as market prices improve and use the money to pay off stadium loans.
Mayor Scott Smith said he still hopes legislation will emerge during next year's session to fix cracks emerging in the Cactus League's financial underpinnings.<!--QuoteEnd--><!--QuoteEEnd-->
<!--quoteo-->QUOTE <!--quotec-->Smith said Mesa will not ask voters in November to approve bonds to pay for the city's share of the project but will rely on funding secured from the value of the farmland, which is near Coolidge.
<b>However, voters will be asked to approve an increase in the bed tax to 5 percent from 3 percent, bringing it in line with recent hikes in Scottsdale and Tempe.</b> The $1 million increase in projected annual revenue from the bed tax would be applied toward stadium construction.
Mesa's city charter requires voters to approve any expenditure on a sports facility of more than $1.5 million, so a second ballot question will appear in November. The City Council would need to vote to put such a referendum on the ballot.
The Cubs have been asking for new training facilities since Glendale and Goodyear built state-of-the art stadiums and practice complexes.<!--QuoteEnd--><!--QuoteEEnd-->