Arizona Coyotes seek Theme Park loophole to pay for Arena?

Join this channel to access perks ✅ http://brodie.bz/join

Arizona lawmakers could make changes to the special taxing districts that Coyotes owner Alex Meruelo is seeking for his proposed $3 billion arena complex in northeast Phoenix.

The players are relocating to Salt Lake City, but Meruelo will get an expansion team from the NHL if he builds a new arena within five years.

These special taxing districts are exempt from state and local income and property taxes, and they can charge patrons a sales tax – revenue that can be used to help pay for the development.

Under current state law, theme park districts are created by cities. Hoffman’s amendment would allow counties to also create them – and potentially override any objections or input from cities.

Sen. Juan Mendez, a Democrat who represents District 8, said the bill would reduce local control.

“It makes it easier for developers like sports teams, owners, of all people, to get tax money by cutting out our cities from the decision-making process,” he said.

Meruelo has said his arena complex will be privately funded.

"We’re going to fund this 100% on our own when it comes to the land, purchasing the land, when it comes to the building, when it comes to the infrastructure, all that comes on my nickel, my money,” he told ABC15 Arizona earlier this month.

Read more: https://www.abc15.com/news/local-news...

Chapters:
0:00 12NEWS Television Coverage
7:06 ABC15-TV Story

MY AVIATION CHANNEL ✈️ http://brodie.bz/Aviation
HOME STUDIO PRO 🎥 http://brodie.bz/Production

📺 Subscribe ➡️ http://brodie.bz/YouTube
📸 Instagram ➡️ http://brodie.bz/IG
📰 Features ➡️ http://brodie.bz/Read
🎧 Podcast ➡️ http://brodie.bz/Apple
✳️ Spotify ➡️ http://brodie.bz/Spotify
🐦 Twitter ➡️ http://brodie.bz/TW
👍 Facebook ➡️ http://brodie.bz/FB

#arizona #nhl #hockey