Proposed tax zones could benefit Phoenix Coyotes and Suns arenas

[Source: Mike Sunnucks, Phoenix Business Journal] — A measure put forward at the Arizona Legislature would allow the city of Glendale to create a special tax district to help the Phoenix Coyotes and Jobing.com Arena.  The legislation, sponsored by Rep. Jerry Weiers, R-Phoenix, also could allow the city of Phoenix to establish a similar tax zone around US Airways Center downtown, where the Phoenix Suns play.

House Bill 2193 would allow Arizona cities to create special tax districts around enclosed, city-owned sports arenas.  Sales tax revenue collected within two miles of those venues would be earmarked for use by the arenas and for public infrastructure within their zones.  The cities also could issue bonds against the money to finance projects and the sports complexes’ operations.

Weiers said earlier this week the bill is aimed at helping the Coyotes hockey team stay in the Valley.  The Coyotes are in Chapter 11 bankruptcy and have lost more than $300 million since moving to Arizona from Winnipeg in 1996.   The team currently is owned by the National Hockey League…

The bill would exclude University of Phoenix Stadium from a Glendale tax zone, Weiers said, because the measure limits the taxing districts to areas around enclosed arenas owned by Arizona cities.  That could allow a tax zone in downtown Phoenix, as US Airways Center is owned by the city of Phoenix.  But Chase Field and the Phoenix Convention Center would not be included in that tax zone.  [Note: Read the full article at Proposed tax zones could benefit Phoenix Coyotes and Suns arenas.]

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Posted on February 21, 2010, in City Hall, Downtown Vitality, Finances, Sports and tagged , , , , , , . Bookmark the permalink. Leave a comment.

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