https://voiceofoc.org/2018/10/anahe...ar-lease-and-development-around-honda-center/
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It also calls for Anaheim Arena Management to take over operations of the troubled Anaheim Regional Transportation Intermodal Center (ARTIC) train station, which has operated on a deficit since opening in 2014. Under the proposal, AAM would assume all responsibility for operating losses.
Beginning in 2017, the city has paid the facility’s deficit – averaging $2.5 million a year – from its general fund.
“It’s a very big deal and a good deal,” Tait said.
Ducks’ Proposal
The 820-acre area around the Honda Center, Angel Stadium and ARTIC is known as the Platinum Triangle, a planning area with nearly $1.5 billion in new mixed-use developments in the pipeline.
Current city planning documents allow for 17,501 residential units, 4.8 million square feet of commercial space, 9.2 million square feet of office development and 1.5 million square feet of institutional uses, like universities, government or hospital facilities.
At the council meeting, city staff said the proposed Honda Center development would be modeled after entertainment complexes like L.A. Live, which is located in downtown Los Angeles and includes the Staples Center, LA Convention Center, a retail plaza, hotels, condominiums, concert theaters, restaurants and more.
Other proposed terms of the agreement include:
- Require AAM to assume responsibility for providing 3,900 parking spots for Honda Center visitors.
- Changing a profit-sharing agreement for the Honda Center so that the city receives half of all profits after a $6 million threshold. The current lease gives the city 20 percent of all profits after $12 million, but because the Honda Center has never generated $12 million in profits, the city has never collected any extra revenue.
- Create a profit-sharing agreement for ARTIC where the city receives 60 percent of all revenue and AAM receives 40 percent.
- Create a new digital advertising sign along the 57 Freeway at ARTIC
Through spokeswoman Erika Hall, Anaheim Arena Management issued a brief statement and declined to comment on the deal specifically.
“We’re excited to work with the City of Anaheim as we continue to plan for the future of the Anaheim Ducks and Honda Center,” said Hall. “We are always looking to improve the fan experience and bring Anaheim the very best in world-class entertainment.”
Councilman Stephen Faessel, who otherwise called the proposal a “great deal,” questioned why the deal includes the sale of a parking lot across from the Honda Center by ARTIC without a formal bidding process where other developers could also bid for the property.
“ARTIC is not that far from Angel Stadium, and now we’re likely going to have to negotiate a deal with the Angels, how do we know the Angels won’t give us a better deal?” Faessel said.
Tait said selling the ARTIC lot to Anaheim Arena Management would make it easier to construct a proposed pedestrian bridge over Katella Avenue, so the city would not have to negotiate with multiple entities to construct the bridge.<<
Much more at the article, including a segment on Angels Baseball.
