Je reproduis un éditorial publié hier dans un journal de Glendale…Très intéressant
Our View: Explain the math on Coyotes deal
Everyone loves a winner, but at what cost?
We celebrated the Phoenix Coyotes’ deep run into the playoffs this year, howling with delight. But a proposed agreement to keep those same Coyotes in Glendale for the next 20 years is setting off warning buzzers.
The city expects to pay nearly $325million over the life of the agreement and in a statement boasts about the $115million it hopes to receive in exchange? Can the city afford this?
An analysis revealed that even if the Coyotes went to the Stanley Cup Finals for the next 20 seasons and the arena booked 30 sold-out concerts each year for the next 20 years, Glendale could still expect to lose about $9million annually. It also is obligated to make debt payments on the arena, which will average about $12.6million a year over the next 20 years.
Undeniably, there are real consequences to letting the Coyotes go. Glendale owns Jobing.Com Arena and is obligated to pay that debt. No one relishes the idea that the arena be shuttered or lose its anchor tenant. We want to see Westgate City Center thrive.
The onus is on council members who support this arena agreement to convince us why this particular deal is best for Glendale. If they approve this agreement, the city will be saddled with substantial debt — debt that may be too much considering Glendale’s financial situation.
The city already has committed $50million to retain the Coyotes since the team was bought out of bankruptcy by the National Hockey League a few years ago. City administrators drew $40million from utility accounts largely funded by fees, such as water and sanitation, paid by residents and businesses. That money must be repaid. The remaining payment came from the general fund, which in part has been propped up by the city's reserves.
After years of declining revenue, the city's rainy-day fund has only $2million. Compare that to tiny El Mirage, which has maintained a minimum $6million rainy-day fund in its budget for the coming year.
Glendale's City Council last month approved a preliminary spending plan for next fiscal year that closed a $35million shortfall with layoffs and tax increases. The budget, which received tentative approval by a 4-3 vote, includes a $17million placeholder for the arena deal.
It now appears those same four council members are poised to approve the new deal as soon as this week. Slow down and allow this agreement to be fully vetted.
Please, council members who support this deal, help us understand exactly why this is in the best interest of the people you serve. Why does this make fiscal sense? You own this decision and you owe it to residents to explain your actions.
--The Arizona Republic editorial board, West Valley
(Information on the proposal can be found on the city's website at glendaleaz.com.)
No de billet 1959-21-60-60-1
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