Talking Stick Resort Arena to get $230mn for facelift
The Phoenix City Council has approved $230 million for the renovation of Talking Stick Resort Arena – home of the Phoenix Suns, Phoenix Mercury, Arizona Rattlers and numerous concerts and other live events, according to media reports.
The arena will undergo renovations between 2019 and 2021. The City of Phoenix will contribute $150 million toward the renovation, and the Suns will contribute $80 million, abc15.com reported.
The measure was approved by a 6-2 margin in a scheduled meeting of the council on January 23. The city will fund its portion of the renovations through its Sports Facilities Fund, generated by existing tourism-related excise taxes – specifically, a 1 percent hotel tax and a 2 percent rental car tax. Any spending beyond $230 million will be funded by the Suns, the report stated.
Renovations will include repair and replacement of mechanical, electrical and plumbing infrastructure for the arena, which the Suns have called home since the 1992-93 NBA season.
As per the agreement, the Suns will build an off-site practice facility in Phoenix, at an estimated cost of $25-$50 million, in order to free up space at Talking Stick Resort Arena. The Suns will be required to pay for that facility.
The Phoenix City Council was originally scheduled to vote on the renovation project on December 12, but the vote was pushed back amid growing concern about the cost and sources of funding for those renovations. The city held a series of open forums in the last month to allow citizens to discuss the project before it was put to a vote.
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