Saturday, September 25, 2021 11:57 pm

Coyotes arena plan must overcome skepticism on financing method

arizona-capitol-fbookBy Jeremy Duda | Arizona Capitol Times

If the Arizona Coyotes want lawmakers to pass legislation that will allow them to build a new publicly funded hockey arena, the team will have to find a way to overcome the Legislature’s historic opposition to the funding mechanism it hopes to use.

A 49-page draft bill that the Coyotes’ lobbyist quietly shopped around the Senate earlier this year would allow the creation of entities called municipal facilities districts, which would be permitted to issue bonds for the financing of a new arena. The bonds would be partly financed using a form of tax increment financing, in which an entity bonds against future revenues that it expects to generate from the project being financed.

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