Next step the full Senate next week...
via Ben Giles tweets,
In GOP caucus, @bob_worsley explains how his SB1149 would help the Coyotes build a new stadium in Arizona.
Sen. @bob_worsley trying to allay fears that the Coyotes would soak up existing tax revenues in a TIF situation.
Wherever the Coyotes build a new arena, would have to be a "greenfield" site, Worsley said. That means a site with no current tax revenue.
Sen. Peterson asks if relationship with Glendale/Coyotes can be repaired. Worsley: “For Glendale, the Coyotes are gone one way or the other"
Worsley said taxpayers won't bear burden if Coyotes fail in new arena. Team will be responsible for paying the bond that funds construction.
Worsley estimates $15M in annual tax revenue from a new Coyotes arena. Half of that, $7.5M would go to pay construction bond. Rest to the GF
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