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Oklahoma City contemplates new arena


Laramie

Well-Known Member

A new arena for the OKC Thunder? Mayor David Holt makes the pitch to ditch Paycom Center.​



View: https://youtu.be/fcfQQRsppL4
Talks between the Thunder and Oklahoma City will begin in October 2022 on funding a new arena. OKC will have a number of funding mechanism to pay for
a 'debt free' arena thru the popular MAPS initiatives or 3 year bond; could include MAPS penny sales tax initiative and bonds (combination). Oklahoma City has
funded a number of large projects that are debt free. Previous $963 million bonds expire in 2027 and the current $978 million MAPS 4 initiative expires in April 2028.
 
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Our city leaders secured $115 million of which $110 million was dedicated to improvements (fan friendly amenities) like a balcony terrace and expanded space.​

They soon realized that Paycom Center's limited space wasn't feasible to invest $100 million of already collected funds from the MAPS 4 initiative to invest in
Paycom Center Arena.

Mayor Holt and the Oklahoma City council put $70 million on 'pause.' The money may be used to fund a feasibility study on a new arena and surplus funds
could be used toward the new arena construction.

With $10 million upgrades to the OKC Thunder Practice facility now in process, the City will continue with some upgrades to Paycom Center (new seats),
a5eb6277-2f55-4c50-80b8-d3ffb3c22597.jpg

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Above pic via OKCTalk.com message board shows 4 sq. block site that could be demolished to make room for a new arena, Paycom Center is below that site encircled by arrows ^.

Oklahoma City has a 4 square block site where the Cox Convention Center now sits in the heart of downtown that could be demolished to make room for
for the new arena. The site has 950 underground parking slots that could be salvaged with a new arena built on top.

Big question: How much do we invest in a new arena $500 million - $800 million with 800,000 square footage - 1 million square footage.

Again, talks begin in October 2022.
 
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What a ****ing joke. The arena is 20 years old. Sports, virtually every one of them, at any age, have become an absolute ****ing joke.
 
They soon realized that Paycom Center's limited space wasn't feasible to invest $100 million of already collected funds from the MAPS 4 initiative to invest in
Paycom Center Arena.

Mayor Holt and the Oklahoma City council put $70 million on 'pause.' The money may be used to fund a feasibility study on a new arena and surplus funds
could be used toward the new arena construction.

With $10 million upgrades to the OKC Thunder Practice facility now in process, the City will continue with some upgrades to Paycom Center (new seats),
a5eb6277-2f55-4c50-80b8-d3ffb3c22597.jpg

downtownhotels072822b.jpg

Above pic via OKCTalk.com message board shows 4 sq. block site that could be demolished to make room for a new arena, Paycom Center is below that site encircled by arrows ^.

Oklahoma City has a 4 square block site where the Cox Convention Center now sits in the heart of downtown that could be demolished to make room for
for the new arena. The site has 950 underground parking slots that could be salvaged with a new arena built on top.

Big question: How much do we invest in a new arena $500 million - $800 million with 800,000 square footage - 1 million square footage.

Again, talks begin in October 2022.
That's the heart of downtown OKC? Damn.
 
Yes, the heart of downtown OKC. Downtown properties have skyrocketed since our transformation.

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Our downtown was on life support near death before 1990. An underground (Metro-concourse) tunnel was built in
1974, it killed the once vibrant street life that was a major fabric of our city. Several historic structures were demolished.
Main street was severed to make room for the $750 million, 844 ft., skyscraper known as Devon Energy Tower.

Downtown has some breathing room. New downtown convention center & Omni hotel and a DT 70 acre park all paid for thru
a debt free penny sales tax Metropolitan Area Projects (MAPS) which has transformed our city since 1993.

The new arena specification to be determined will provide that the NBA remain in OKC long-term. As Mayor Holt said,
'We have non NBA cities checking our pulse every morning."


Salt Lake City has been the model for our vision. You have inspired OKC in many ways.
 
As soon as I get more information on a new arena--the group will begin talks in October '22. Hope to have some updates.

You're very fortunate in Salt Lake City. You are the smallest market to ever host the NBA 'All Star Game' week activities.
That require no less than 6,000 luxury hotel rooms. Cities like Portland and Sacramento IIRC has never hosted an NBA
All Star Weekend.

You, Salt Lake City are a city of the future--beautiful mountains, Ski slopes, very clean city with a nice downtown. Growing
MSA population, good NBA Jazz ownership group. The area plays hosts to many Olympic trials etc. You guys are very
fortunate.
 
Wow!

Seattle isn't short on an arena. They have built a venue that is truly second-to-none. Kevin Durant would be willing to sit
out a year or two until the NBA returns to Seattle or Austin gets an NBA franchise.

We have had our pulse checked so many times that our Mayor is going into cardiac arrest. Mayor David Holt wrote a book
about OKC:

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200819_Convention_Center_JSV-3772_(Large).jpg

New $261 million 602 room luxury Omni Hotel (left) and new $288 million Oklahoma City Convention Center (right) opened in 2021.
City paid ($85 million) in funds toward Omni Hotel construction.

Oklahoma City,
a state-of-the-art $288 million convention center built in 2021 is debt-free; includes massive 500,000-sq-ft interior includes a 200,730-square-foot exhibit hall on the first floor, which is divisible into four halls. About 45,000 square feet of meeting spaces are on all levels of the building. The rooms can be configured to provide up to 27 meeting spaces.

Now we need a new state of the art arena to match the convention center. Anticipate the cost of the new arena with 37% inflation on building materials to cost $450 million to $500 million on city owned land. City owns several downtown parcels like the 4-square block former Cox Convention Center site (occupied by Prairie Surf Media Studios).

How are we able to pay off the debt; Bonds and/or sales taxes.

$70 million MAPS 4 Funds (PAUSE) already collected; some of these funds may be used for arena architectural designs.
Extension vote: Oklahoma City 2017 General Obligation Bonds June 2017 ends June 2027 (10 years)
Extension vote: MAPS 4 initiative sales tax collection began April 2020 ends April 2028 (8 years)


View: https://www.youtube.com/watch?v=PConR_sbigk


Oklahoma City Council will meet next month (Tuesday, October 4, 2022) with Oklahoma City Thunder ownership group representatives to begin preliminary
talks on a new arena.






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Oklahoma City consulting firm, CMA Strategies is asking Oklahoma City residents whether they might support a one-cent sales tax over six year period to pay for a $750 million new arena to replace Paycom Center.

The poll also suggests the Oklahoma City Thunder ownership will contribute $75 million for a new arena in which the owners would be responsible for 10% of the $750 million price tag.

Oklahoma City Mayor David Holt indicated he was aware of the poll and doesn’t believe it represents potential terms with the Thunder, though he confirmed “a team contribution has always been a part of the conversation.”

Mayor Holt said, “Whenever I say this should be in line with recent models in similar sized markets, a team contribution has become a part of every recent arena deal, even in the smaller markets,”

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The site currently home to Prairie Surf Studios immediately north of the 20-year-old Paycom Center is widely viewed as the most likely location for a new arena because it has streetcar access on all four sides.

prairetail-Night-exterior.jpeg

City officials and those running the studio agreed that when a five year lease was signed in 2020 the arrangement was not going to be long term.

“This is really the issue of 2023, at least from a mayor’s perspective,” Holt said during a live chat hosted by The Oklahoman in which he revealed the new arena will be a topic of community discussion this year.

“Our $190 million arena is the smallest in the NBA, now above the average age, and it is the second-cheapest. And as one of the three smallest markets in the league, we have to do more, not less, to hold our place. This will require my personal negotiation and advocacy as we work towards a proposal for the community to consider that will preserve a long-term relationship with major league professional sports."

Mayor Holt cautioned not to presume the poll represents potential terms of any new arena proposal.

The Oklahoma City mayor declined to confirm or deny the numbers cited in the poll. He noted the poll by McFerron is prefaced with a request to answer questions based on whether “statements” would make the respondent more likely to vote yes or no.

The OKC mayor went on to say “People ask lots of questions in polls, I can’t comment on conversations we are having … dollar amounts are not decided. Someone throwing a number out is speculation and not reflective of actual conversations.”

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Wow so I’m addition to stealing the Sonics from Seattle, the new owner is now willing to contribute a whopping 10% to the new arena?

smh…
 


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