by Pat Freeman
The first time I was here in April I had the opportunity to present an idea with the understanding of later returning with a plan here today I’ve returned with a first class development team made up of some of western New York ’s finest citizens.
Our Objectives is to introduce you to a comprehensive well put together master plan which wills Create Jobs and Opportunity , to help meet the Economic demands of this new century. Today reminds me of a conversation I had with NFL Commissioner Roger Goodell about the Future of our professional football franchise in WNY. He stated to me it was going to take a lot of hard work and dedication. This is why we are here to day to show you an example of the citizens of WNY coming together to present this historic proposal.
Indianapolis, Indiana did something similar since 2008 2.25 Billion dollars in gross revenue, 4200 new jobs, 4 new hotels, the renovation of existing hotels, new businesses. Mayor Greg Ballard stated what makes this work is understanding that your professional football franchise is just a piece of the puzzle. That what makes this work is this new multi-use facility is used year round for a variety of functions, conventions, and trade shows festival, tournaments, and etc. Year round revenue being created in your region because of having central located facilities which offer a variety of visitor’s critical economic options. If 20 Million visitors go through western New York each year this project will assist in making that number greater but most importantly making that number of a greater economic impact on the WNY region.
This project could create
Close 10,000 Living Scale Jobs
That also assists our veterans, minorities and gets them to complete the apprenticeship training.
Complex use will become a year round attraction, and assist the WNY region in becoming one of the number#1 destinations in the country.
III. Primer: Sports Stadium Financing Plans – How it’s been done in other communities:
Table 1: Comparative List of Funding Sources for NFL Stadium Construction & Renovation Projects
Chicago , 2003: 75% Public Contribution
Green Bay , 2003: 85% Public Contribution
Philadelphia , 2003: 80% Public Contribution
Arizona , 2006: 72% Public Contribution
Minnesota 2012: 45 % Public Contribution
Table 2: Comparative Cost and Sources of Funding for New MLB Stadium Construction
Miami/Marlins Field, 2012: $525 Million, 70% Public
Minnesota/Target Field: 2010: $544 Million, 72% Public
NY Mets/Citi Field, 2009: $600 Million, 27% Public
NY Yankees/Yankee Stadium, 2009: 17% Public
Washington/Nationals Park, 2008: $611 Million, 100% Public
Table 3: Economic Impact Studies for recent NFL Super Bowl Events
2008 Super Bowl ( Arizona ): $501 Million
2003 Super Bowl ( San Diego ): $367 Million
1999 Super Bowl ( Miami ): $393 Million
IV. Decision Matrix: Action Sequence Needed to Get from First Base to Home Plate
Stage 1. Submission of Preliminary Developer’s Master Plan seeking land acquisition agreement, City of Buffalo and State of New York Site Designation,
Stage 2. Master Plan Presentation to NFL Commissioner and League for Review, to include Preliminary Market Analysis & Project Feasibility Assessment (also to be presented to City and State)
Stage 3. Subsequent City , State and NFL review and approval, of above, Submission of Preliminary Financing Plan (Cash, Equity, Debt and Public Finance Components)
Stage 4. Pending Agreements of Concerned Parties, implementation of Financing Plan & Pre-Construction Site Prep.
The Greater Sports and Entertainment Complex President is Mr Nicholas Stracik, and Vice President Mr. George Hasiotis, and along with their development team have offered western New York a rare opportunity to secure our professional franchise but also to reinvigorate our economy by producing living wage earning jobs!
If you enjoy talking about the world of sports tune into the number#1 sports show in the nation every Saturday from 12PM-1PM hosted by WUFO Sports Director Patrick Freeman on 1080AM WUFO radio or via the internet at www.wufoam.com. Or catch Sports Update for clbTV (ch.20 Buffalo) and YouTube. Also join us for the number#1 recap show every Monday at 7:25AM with Lee Pettigrew, and The Mighty O’Ba Pat Freeman.