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Chicago to build arena for DePaul with taxpayer's money

Da Coach

Da Coach

Moderator
Staff member
This is a strange story, and I wouldn't be surprised if it never happens. Chicago mayor Rahm Emanuel has proposed that the city of Chicago help out DePaul's attendance and recruiting problems by building them a new state-of-the-art stadium in downtown Chicago using $100 million of taxpayers money-
http://www.cbssports.com/collegebas...epaul-to-receive-300-million-arena-in-chicago

The cost, according to Emanuel's proposal, would also be funded in part by a proposed $100 million in naming right's fees. I don't know what he's smoking, but even professional teams' naming rights sell for a fraction of that kind of money, and college arenas are lucky to get a naming right's deal for 1% of that. For example, Allstate pays only about $1 million per year for naming rights at the current DePaul home arena in Rosemont, and Bradley tried to sell naming rights to the Renaissance Coliseum for less than that and had no takers. State Farm just agreed to pay $60 million over the next 30 years to name the Assembly Hall in Champaign.

Also, if Chicago is willing to fork out that kind of money for a private, Catholic school, then why wouldn't other private schools like Northwestern and Loyola want and deserve the same deal? And how about state schools like UIC and Chicago State?

Plus, I thought Chicago was having serious financial problems-
http://www.cnsnews.com/news/article/rahm-emanuel-faces-financial-woes-next-chicago-mayor

Their credit rating was just downgraded-
http://www.governing.com/news/state/mct-chicago-credit-rating-downgraded.html
 
Da Coach said:
...
Also, if Chicago is willing to fork out that kind of money for a private, Catholic school, then why wouldn't other private schools like Northwestern and Loyola want and deserve the same deal? And how about state schools like UIC and Chicago State?

Plus, I thought Chicago was having serious financial problems-
http://www.cnsnews.com/news/article/rahm-emanuel-faces-financial-woes-next-chicago-mayor

Their credit rating was just downgraded-
http://www.governing.com/news/state/mct-chicago-credit-rating-downgraded.html
Click to expand...


All great points. But Rahm Emanuel learned from the best that you don't need to balance the books, listen to dissenting voices or reconcile your initiatives to existing laws. You do what you want with an assumption of mandate. There's a new breed of politician; do what you want, not what's best for the greater good. Amazing arrogance.
 
Sun Times article about local resistance to the new proposed arena-
http://abclocal.go.com/wls/story?section=news/politics&id=9102506

Most analysts do not believe the city nor DePaul can come close to raising the money needed, and the revenues generated will be tiny with only 16-18 home games a year.
And others agree with me that the amount that they expect to get from naming rights is ludicrous-
http://chicago.cbslocal.com/2013/05/14/wisch-numbers-dont-add-up-for-depaul-arenas-naming-rights/

Reportedly, Rahm Emanuel wants a venue to draw concerts and other events away from the United Center, which was built entirely with private money and is privately owned.
Maybe Rahm can take the money from the failing public schools?
http://www.wlsam.com/common/page.ph...+of+public+school+funding?&id=38303&is_corp=0
 
This is actually getting more interesting...

Now the city of Chicago (under their McCormick Place/Navy Pier Authority) is actually filing lawsuits trying to take property away from private individuals...
http://www.chicagotribune.com/business/breaking/chi-mcpier-depaul-arena-20130821,0,4602569.story
http://www.chicagorealestatedaily.c...130829959?template=mobile&X-IgnoreUserAgent=1

They are filing "eminent domain" lawsuits trying to forcibly take people's property - just to build a facility for a private university!
(at a cost of $173 million - and sure to go up now - with the taxpayers funding the LARGE majority of that.)

At the very least, this could get tied up in court for years - even decades - remember the old "Sears property" in downtown Peoria - and how one landowner held out for over 40 YEARS!!!
...and forced Sears to build on a convoluted, weirdly shaped piece of property because they fought the eminent domain claim?
 
Chicago, Illinois the place in America where liberals spend your money for no reason, so they hike your taxes along with the rest of the state's taxes
 
Speaking of new arenas....

University of Illinois is renovating their Assembly Hall arena and it appears they have chosen a name for the project....

header-3.png


"ILLINOIS RENAISSANCE"
http://grfx.cstv.com/photos/schools...c_non_event/illinois-renaissance-brochure.pdf
 
The City of Chicago's Navy Pier/McCormick Place Authority (governing body officially called - Metropolitan Pier and Exposition Authority & nicknamed "McPier") has approved a design for the new DePaul arena just north of McCormick Place on a block that now houses some apartments, some offices, parking lots & some apartments. (bounded by Cermak, Indiana, Prairie, & 21st Ave.)

They have authorized payment of $7.2 MILLION just for the design - from the architectural firm of Pelli Clark Pelli based in Connecticut and have bypassed Chicago firms..

Seems two of the most influential members including the president of this Chicago authority board also sit on DePaul's Board of Trustees.

The facility will be a 10,000 seat basketball arena primarily used for DePaul basketball, having a current estimated overall cost of $173 million, paid for large thru Chicago taxes. ($70 mil comes from DePaul, $70 mil from the convention authority (taxes and fees for events at McCormick & Soldier Field) and $33 million from City of Chicago tax revenue.)


http://www.chicagotribune.com/business/breaking/chi-depaul-arena-mcpier-20130923,0,19653.story
 
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It's a nice design and a beautiful looking arena. I am sure there are hundreds of other private universities that would love for the taxpayers to help build a beautiful new arena for them. IMO, DePaul is being used by Mayor Emanuel for his (yet unnamed) ulterior motives, which he always has, and the DePaul people are likely to regret it some day.
The location is just north of the west extension of McCormick Place, and just a little south of Soldier Field. It is an area that is currently pretty run down, and a real eyesore. I am sure that is one of Emanuel's reasons for the eminent domain actions to acquire and develop it so visitors attending events at McCormick Place don't see that ugly area right next door.-
75915598.jpg


Anyone who has ever attended an event at McCormick Place or a Bears game at Soldier Field knows how congested the traffic is there, how limited the access is, and what a nightmare parking can be, not to mention safety issues in that area of the city (especially at night). It is also nowhere near DePaul or most of where their fans live.
Good luck DePaul fans. :)


BTW- here is an interactive map showing the relative crime rates for the different Chicago neighborhoods. Note that the areas around McCormick Place, just south of the museum campus are among the highest crime areas in the city.
http://www.neighborhoodscout.com/il/chicago/crime/

Here is the crime data for the specific area where the arena is to be built-
http://www.neighborhoodscout.com/il/chicago/prairie-ave/#crime
 
Depaul is going to be a beast in a few years with that building.

There is no program in the entire country with more potential based on natural resources around them to be the next 'it' program.

There is nothing keeping them from becoming something along the lines of Memphis.
 
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