By Jack Darragh and Sherry Bockwinkel
Everything you always wanted to know about (his) stadium, but Paul Allen was afraid you'd ask.
- No conflicting event dates can be scheduled at the baseball stadium and the proposed stadium and convention center. (Section 106 subsection 8)
- Ownership of the Kingdome will be transferred to the public stadium authority for the purpose of demolishing it. (Section 607)
- All funds from the filming of the demolition of the Kingdome will be put into a new fund called the film and video promotion account. (Section 106 at subsection 14)
- The stadium is on a real fast track with expedited permit processing and expedited environmental review processing. (Section 109)
- Only 10 percent of the seats in the stadium will be defined as affordable. (Section 210 at subsection 2, iv)
- Paul Allen will be the "sole master tenant" of the new stadium and exhibition hall. He will keep all revenues from both including sublease monies, concessions, advertising and parking revenues, except 20% of revenues from the exhibition hall. (Section 106)
- He will be given naming rights to the new stadium, valued at $40 million by the Mariners for their new stadium. (Section 106)
- He is guaranteeing a maximum of only ten years lease payments although it will take more than 20 years to retire the debt. If necessary, you will pay the rest. (Section 106)
- The public stadium authority may refuse to disclose financial information on the master tenant (Paul Allen), concessioners, the team affiliate (the Seahawks) or subleases. (Section 119)
- The public may not inspect or copy any financial or commercial information of any person or organization that leases or uses the stadium or exhibition center. (Section 120)
- Mr. Allen is guaranteed at least $6 million yearly from lottery revenues regardless of the amount taken in from any new sports related lottery game. (Section 206) His yearly rent in the new stadium will be $850,000. That's a difference of over $5 million into his pocket yearly.
- If the proposed revenues do not provide sufficient money for payment of principal and interest on the construction bonds, the legislature may provide additional taxes to make up the shortage. A blank check to be written on the taxpayers of this state. (Section 216)
Text of stadium bill
http://leginfo.leg.wa.gov/pub/billinfo/house/2175-2199/2192-s_pl_042697
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