The Pennsylvania Historical and Museum Commission has sent a letter to the City-County Sports and Exhibition Authority questioning the speed of the razing of the Mellon Arena. The facility officially goes dark in August when the Penguins move their offices into the Consol Energy Center. At that time, using tax dollars, the SEA would be responsible for utilities, maintenance and insurance costs. A consultant told the SEA board that would be about $78,000 to $100,000 a month depending on whether the plan is to demolish the arena or keep it ready for possible re-use.
In her letter to the SEA, Historical Commission Director Jean Cutler said they want to make sure they've received all crucial information to fully understand the process and the effects on historic resources (the arena). The SEA sent a study it commissioned that supports the Penguins plans to demolish the arena and develop the 28 acre site. Two preservation groups have commissioned their own study on keeping the arena.
Showing posts with label SEA. Show all posts
Showing posts with label SEA. Show all posts
Friday, June 18, 2010
Thursday, June 17, 2010
S.E.A. Expects Deficit for Convention Center
Low attendance and less visitor spending are causing Pittsburgh’s David L. Lawrence Convention Center to operate at a deficit in 2010.
The city-county Sports & Exhibition Authority is expected to post a $409,631 operating deficit for the convention center by the end of the year. The SEA runs the center and would need to pay for that loss with its reserves.
Visit Pittsburgh President Joe McGrath says corporations are sending fewer people to conventions and cutting down on hospitality once they get there.
But McGrath says it could be worse for Pittsburgh – it is in many other cities.
“We have fared very well in this economy compared to virtually any destination in America. In 2009, in fact, for hotel occupancy, maintenance, and rate we were in the top 10% of the nation, so we have done extremely well as a destination selling in hard times.”
McGrath says the 2010 deficit isn’t likely to shrink because conventions are planned well in advance, but the convention center’s fortunes could change in the next few years.
The city-county Sports & Exhibition Authority is expected to post a $409,631 operating deficit for the convention center by the end of the year. The SEA runs the center and would need to pay for that loss with its reserves.
Visit Pittsburgh President Joe McGrath says corporations are sending fewer people to conventions and cutting down on hospitality once they get there.
But McGrath says it could be worse for Pittsburgh – it is in many other cities.
“We have fared very well in this economy compared to virtually any destination in America. In 2009, in fact, for hotel occupancy, maintenance, and rate we were in the top 10% of the nation, so we have done extremely well as a destination selling in hard times.”
McGrath says the 2010 deficit isn’t likely to shrink because conventions are planned well in advance, but the convention center’s fortunes could change in the next few years.
Friday, June 11, 2010
Preservationists Conduct Own Study On Fate Of Arena
The city-county Sports and Exhibition Authority has delayed its next meeting on the future of the Mellon Arena until July 13th. Consultants for the SEA have sent a report to the Pennsylvania Bureau of Historic Preservation that recommends the arena should be razed. The bureau has 30 days to review the study which concludes that the plan by the Penguins, who have the development rights to the 28 acre site, would produce the greatest economic benefit. The Penguins want to demolish the arena and build a mixed-use development.
While the state bureau is reviewing that study, 2 groups that want to save the arena, Preservation Pittsburgh and ReUse the Igloo, have hired a consulting firm to conduct a separate study.
Architect Rob Pfaffman of ReUse the Igloo says the struggle is not easy..."We're up against developments and organizations that don't fully appreciate the value of historic preservation to the region's image and livability."
The SEA has held one public meeting in the Hill District and 6 closed-door meetings, the most recent Wednesday night.
Pfaffman says the 2 preservation groups have reached out to the residents of the Hill..."We sit down calmly and present the idea that historic preservation is not about hugging a building, but making it serve a community need and an economic need."
Pfaffman says he will take their study...not to the SEA...but to the residents of the Hill District.
The final decision on the fate of the arena is up to the SEA.
While the state bureau is reviewing that study, 2 groups that want to save the arena, Preservation Pittsburgh and ReUse the Igloo, have hired a consulting firm to conduct a separate study.
Architect Rob Pfaffman of ReUse the Igloo says the struggle is not easy..."We're up against developments and organizations that don't fully appreciate the value of historic preservation to the region's image and livability."
The SEA has held one public meeting in the Hill District and 6 closed-door meetings, the most recent Wednesday night.
Pfaffman says the 2 preservation groups have reached out to the residents of the Hill..."We sit down calmly and present the idea that historic preservation is not about hugging a building, but making it serve a community need and an economic need."
Pfaffman says he will take their study...not to the SEA...but to the residents of the Hill District.
The final decision on the fate of the arena is up to the SEA.
Thursday, June 3, 2010
RAD Approves SEA Refinancing of 1999 Stadium Bond
At Tuesday’s board meeting, the Allegheny Regional Asset District approved a request from the city-county Sports & Exhibition Authority to refinance a 1999 bond issue totaling $176.5 million.
The SEA also plans to refinance a separate bond issue of $186 million.
RAD Executive Director David Donahoe says the SEA will refinance the bonds next month to take advantage of lower rates.
Donahoe says the bonds were originally issued to fund the renovation of the David L. Lawrence Convention Center and the construction of Heinz Field and PNC Park.
He says the proceeds, estimated at $5 million, will be used to buy out the lease on the Convention Center’s air conditioning system and pay for other renovation costs.
“Once they do that, they will be able to lower their operating budget and therefore decrease the amount of subsidy that is required for the Convention Center,” says Donahoe. “So the District Board agreed to do that, and they hope to achieve that by a sale of about $177 million in bonds in July.”
Donahoe says if the SEA can sell more bonds, they will use the additional proceeds to pay for routine capital maintenance at the Convention Center.
Unless positive revenue trends reverse, the RAD Board of Directors also plans to release funds they are withholding from the region’s “major assets.” Donahoe says every year, the District holds back 10% of the funding for some recipients until it’s sure that it can cover all of its commitments.
Donahoe says the withheld money will be disbursed in July if a review of June and July revenue proves favorable, which he says has been the trend for the first five months of the year.
The SEA also plans to refinance a separate bond issue of $186 million.
RAD Executive Director David Donahoe says the SEA will refinance the bonds next month to take advantage of lower rates.
Donahoe says the bonds were originally issued to fund the renovation of the David L. Lawrence Convention Center and the construction of Heinz Field and PNC Park.
He says the proceeds, estimated at $5 million, will be used to buy out the lease on the Convention Center’s air conditioning system and pay for other renovation costs.
“Once they do that, they will be able to lower their operating budget and therefore decrease the amount of subsidy that is required for the Convention Center,” says Donahoe. “So the District Board agreed to do that, and they hope to achieve that by a sale of about $177 million in bonds in July.”
Donahoe says if the SEA can sell more bonds, they will use the additional proceeds to pay for routine capital maintenance at the Convention Center.
Unless positive revenue trends reverse, the RAD Board of Directors also plans to release funds they are withholding from the region’s “major assets.” Donahoe says every year, the District holds back 10% of the funding for some recipients until it’s sure that it can cover all of its commitments.
Donahoe says the withheld money will be disbursed in July if a review of June and July revenue proves favorable, which he says has been the trend for the first five months of the year.
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