We have some details of the plan for improvements to Talking Stick Resort Arena, home of our Suns who have won a combined 87 games across the last four seasons. Unfamiliar with this blessing bestowed upon the taxpayers? Here’s a refresher:
- Dec. 12, 2018 - Phoenix City Council has vote scheduled to determine if $230 million in spending for upgrades to TSRA will be approved. Vote is pushed back amid concerns regarding cost and sources of funding.
- Jan. 23, 2019 - Suns owner Robert Sarver gets the final vote he needs, from councilwoman Vania Guevara to obtain funding for renovations.
- Feb. 1, 2019 - Sarver send Guevara nearly $3 million.
Now you’re caught up. The efficiency is inspiring.
So here’s the deal:
- City of Phoenix pays $150 million for arena renovations.
- Team will pay $80 million for renovations and any cost overruns.
- After the renovation is complete, the city will pay $2 million annually for 12 ½ towards a new renewal and replacement fund that will go to future renovation needs.
- Suns pay $1 million into the new fund for 12 ½ years.
- Suns will operate and maintain the building, this includes booking concerts and other events.
- Suns pay rent to the city (calculated as a percentage of annual proceeds).
- Suns build a new practice facility (estimated to cost $25 million to $50 million) in Phoenix.
- Suns will be downtown through 2037. They’ll then have an option to extend the lease to 2042. Should the team leaves before 2037, it will face up to a $200 million fine.
Lucky locals. Your tax dollars get to go to something really special. So here’s what we learned this week about the upgrades:
- Okland will be the construction manager at risk for the project. They recently worked on the $125 million renovation to Vivint Smart Home Arena, home of the Utah Jazz.
- HOK will also be working on TSRA. Their last project was the $183 million upgrade to the Atlanta Hawks’ State Farm Arena.
- About $15 million will go towards ADA upgrades and entrances to the seating bowl.
- Another $15 million will be used to expand the upper and lower concourses.
- $19 million is earmarked for security and technology improvements.
- The cost of upgrading mechanical, electrical, plumbing and communication systems will run about $100 million.
Chill out, Suns fans. Philly is going through the same thing and it’s costing their taxpayers a bundle. Oh, I’m sorry, I mean it’s costing them nothing.
No guarantees this makes the product on the floor any better, but perhaps it will increase your enjoyment of, oh I don’t know, a Chainsmokers concert.
Renovations are planned to be completed by 2022.