Quote:
Originally Posted by J.OT13
Other than money from air rights, what else do we get? How much are OSEG investing in the Park? I know they aren't throwing any money for the Stadium/Arena or the parking. Are we paying them to manage the stadium? Are they paying us to use the stadium/arena? Are they paying taxes on the new buildings? Are we making money on the parking or are they?
Seems nothing was made clear.
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To my knowledge OSEG is paying for a portion of the parking. There's no commitment to contribute to the park.
Revenue allocation is murky at best. OSEG will manage the retail, parking, stadium and arena with all revenues going into a convoluted waterfall of payments with payouts split between OSEG on the city based on a complicated equity calculation that nobody understands. Other than the $1 rent per year, I don't think anybody has any clue as to how much revenue will flow to the city from operations.
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