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Old Posted Oct 21, 2019, 6:48 PM
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TakeFive TakeFive is offline
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Quote:
Originally Posted by CherryCreek View Post
And I'm 100% sure the answer is YES! At least, there's no reason why, like almost every other professional sports owner in the country, Kroenke wouldn't make a go at getting the taxpayers to pay for a new arena. It's well established that having someone else pay for all of your principle capital expenditures will really help make your business more profitable.
FYI, the Pepsi Center was privately financed and built - but not by Kroenke.

Plus, the fun link you provided demonstrates KSE is privately funding/building the new $5 billion Ram's Stadium so why would you think Kroenke would want to entangle himself with government funding and lots of messy stuff?

When the CPV site for the Pepsi Center was identified it was a fricken Superfund Site so an arrangement was worked out with Ascent Entertainment (now Liberty Media). https://renewdenver.org/projects/pepsi-center/
Quote:
In November 1997, the City acquired an approximately 52-acre site in the CPV from the Southern Pacific Railroad, part of which is now the Pepsi Center. The acquisition enabled the City to keep the Denver Nuggets and the Colorado Avalanche in Denver and to fulfill the vision laid out for the CPV by Mayors Currigan and McNichols decades before. After much negotiation, the City reached agreement with Ascent Entertainment Group to develop the Pepsi Center and keep the teams in Denver for a 30-year contract term.
What deal was worked out between the parties?
Quote:
Following expansion of the urban renewal area, DURA entered into an agreement with Ascent to provide TIF assistance to fund site demolition, environmental remediation, and other site-wide improvements totaling $36.5 million. In addition, DURA disbursed another $4.5 million in City funds for construction of needed public infrastructure. As a result of this unique public-private collaboration among the City, DURA, and the developer, rehabilitation and reuse of the former Rice Yards site was enabled and the path for development of the $160 million Pepsi Center was laid.
Here's another interesting look-back. https://www.mortenson.com/sports/projects/pepsi-center
Quote:
Since constructing a brand-new arena was the more costly option, Mortenson worked diligently to reduce the cost of the Pepsi Center. At the time, Pepsi Center was slated to be the second largest concrete framed structure in Colorado. Due to a lack of competitive bids for the concrete work, Mortenson self-performed this work and saved the owner $5M. The extra effort to divide the concession package into smaller subcontracts, reduced the overall cost for this scope of work while providing more local opportunities. The biggest cost savings resulted from compressing the 26-month construction schedule into a fast-paced 19 months, saving the owner over $1.2M in construction costs.
The CPV masterplan among other things shows 7th street as a primary connection between Auraria, Pepsi Center and Elitch's/River Mile. I don't doubt that at some point in time KSE will redevelop their land but I wouldn't hold my breath; it could easily be a decade or two.
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