Paycom Center (formerly Chesapeake Arena)

[SEMIweather]

Question on the expanded south entrances - I was thinking from prior renderings that this area would be semi-covered and there would be a couple of bars and/or restaurants that could be accessed by the general public. Is that no longer happening, or is that going to be separate from what's covered by the MAPS 4 funding?

[shawnw]

separate/RFP

[SEMIweather]

separate/RFP

Thanks

[BoulderSooner]

Question on the expanded south entrances - I was thinking from prior renderings that this area would be semi-covered and there would be a couple of bars and/or restaurants that could be accessed by the general public. Is that no longer happening, or is that going to be separate from what's covered by the MAPS 4 funding?

this is that project

https://www.okctalk.com/content.php?...y-move-forward

[dwellsokc]

Improvements proposed for the arena as part of MAPS 4.

They plan to start in the summer of 2021 and take 5 years to complete.

Who are "They?" Have plans been completed and/or bid?

[Pete]

Who are "They?" Have plans been completed and/or bid?

It was in a presentation to the MAPS 4 board.

Nothing is final yet but nothing has changed since their original proposal before the last MAPS vote.

[bombermwc]

Looks good. I'm glad to see the outside added sections finally connecting so they will look less like we added them later...like we did :P

Looks like some really good stuff going in to the place to help keep it relevant for the future. We've still got some room to grow if we need to as well, so that's positive too.

Who would have thought the place would look like this back in the 90's!?

[mugofbeer]

Still wish they could call it the Thunder Dome.

[Laramie]

Still wish they could call it the Thunder Dome.

Save that for the next MAPS 5 Chapter when MAPS 4 expires in 2028.

[warreng88]

An article in the Oklahoman behind the paywall states the Thunder proposed going first in MAPS 4. Would like to know more of the plans here.

[Pete]

An article in the Oklahoman behind the paywall states the Thunder proposed going first in MAPS 4. Would like to know more of the plans here.

I watched the MAPS 4 board meeting yesterday and there was no mention of project order/priority.

Almost all of the 16 approved projects have made their pitch and almost all want to be first in line.

In the end, I believe the major and the main project manager from ADG will decide on the schedule.

[Rover]

I watched the MAPS 4 board meeting yesterday and there was no mention of project order/priority.

Almost all of the 16 approved projects have made their pitch and almost all want to be first in line.

In the end, I believe the major and the main project manager from ADG will decide on the schedule.

Thanks for the sanity Pete.

You are pretty astute, so..... what is your opinion of what the approximate order of priority of projects should be? Then forecast what you think it will wind up actually being.

Thanks.

And, Pete, have you ever thought about running for Mayor or council? You could bring a real sense of pragmatism and sensibility to our civic leadership.

[Pete]

Personally, I believe the new animal shelter should go first. The current facility is a disaster and they are having to euthanize far too many animals.

However, I'm very sure the Fairgrounds Arena and CHK Arena will be very near the front simply because of the power and influence of the people involved in those projects.

[Rover]

Personally, I believe the new animal shelter should go first. The current facility is a disaster and they are having to euthanize far too many animals.

However, I'm very sure the Fairgrounds Arena and CHK Arena will be very near the front simply because of the power and influence of the people involved in those projects.

And the rest of the question? When can we see you run?

[Pete]

And the rest of the question? When can we see you run?

I briefly considered it when Ed Shadid said he was going to step down, as I live in Ward 2.

But I was happy to see James Cooper step forward and he's doing a great job for this ward and for the city as a whole.

I feel like I can be of better service to the city as a journalist.

[Dob Hooligan]

I think there is a pretty direct solution here. might be a little complex, but doable:

Let the Thunder pay for the construction up front and reimburse them at the back end of the MAPS revenue term. The Thunder would generate revenue more quickly than any placement that isn't first. And that could offset the cost of borrowing. This is the only MAPS funded Chesapeake arena work for the next 8 years.

I recall Devon did something like with Project 180. They paid to finish more quickly in advance of their property taxes, or something like that.

[Pete]

I think there is a pretty direct solution here. might be a little complex, but doable:

Let the Thunder pay for the construction up front and reimburse them at the back end of the MAPS revenue term. The Thunder would generate revenue more quickly than any placement that isn't first. And that could offset the cost of borrowing. This is the only MAPS funded Chesapeake arena work for the next 8 years.

I recall Devon did something like with Project 180. They paid to finish more quickly in advance of their property taxes, or something like that.

Devon loaned the money to the city so the work could be done before they moved into their new building.

And, they charged interest.

[Dob Hooligan]

Devon loaned the money to the city so the work could be done before they moved into their new building.

And, they charged interest.

Yes. And I'm not suggesting anything is done at zero interest, or anything like that. But, a money making, private business could be seen as a responsible partner to the city if they pay to be in the front of the line to get something done to city property that makes them more money more quickly.

[BDP]

Yes. And I'm not suggesting anything is done at zero interest, or anything like that. But, a money making, private business could be seen as a responsible partner to the city if they pay to be in the front of the line to get something done to city property that makes them more money more quickly.

You mean "corruption"? Ha.

Actually, you're kind of making a case for doing all this with bonds, instead. Rates are low, construction would be much sooner, and it would move the return up in the timeline.

But, the debt free pay-as-you-go model of MAPS is a firmly established selling point and has been politically well accepted.. So, I think we're always going to have to be patient with it.

[Rover]

You mean "corruption"? Ha.

Actually, you're kind of making a case for doing all this with bonds, instead. Rates are low, construction would be much sooner, and it would move the return up in the timeline.

But, the debt free pay-as-you-go model of MAPS is a firmly established selling point and has been politically well accepted.. So, I think we're always going to have to be patient with it.

I would think bonds paid back by a dedicated already assured source would come with an extremely low interest rate. Given the present value of money it might be worth the juice.

[BDP]

I would think bonds paid back by a dedicated already assured source would come with an extremely low interest rate. Given the present value of money it might be worth the juice.

It probably would be worth it.

At the same time, doing it the way we do it kind of takes the pressure off of bond measures to pay for general infrastructure maintenance and improvements. Basically, we finance the house, but we have to save up for our toys.

[Pete]

I would think bonds paid back by a dedicated already assured source would come with an extremely low interest rate. Given the present value of money it might be worth the juice.

The city does it all the time for other big capital projects, in much larger amounts.

And our excellent credit rating (something they are always crowing about) means you get the lowest possible rates.

[OKCPetro83]

I will never understand for the life of me understand why the city felt the need to bend over and pay for Billionaire's improvements to their Arena. It is nuts. Do they think that these owners would have sold or moved their team to a different city?

[jedicurt]

I will never understand for the life of me understand why the city felt the need to bend over and pay for Billionaire's improvements to their Arena. It is nuts. Do they think that these owners would have sold or moved their team to a different city?

because the billionaire doesn't own the arena? the city does????

[BoulderSooner]

I will never understand for the life of me understand why the city felt the need to bend over and pay for Billionaire's improvements to their Arena. It is nuts. Do they think that these owners would have sold or moved their team to a different city?

it is a city owned building these improvements are for all events in the building ... they will be great for those with seats in the upper deck ... . they also make this building viable for decades to come ..