On May 23, DNA President David McDonald attended a City Council Workshop on the Civic Center redevelopment. The presentation can be seen here. According to the Mayor the council will not vote on which direction to take until the June 27 council meeting.
The City Manager has proposed 3 options to the council with cost. (slide 134)
Option One--retain both arena and Mercer, build underground parking, restore four blocks of residential. Cost $135-$165 million. Annual revenue from property and Mercer operations--$3-5 million.
Option Two--Follow the complete ULI plan--cost $130-160 million (New theater is $130m of this.) annual revenue--$5-7 million.
Option three--keep Mercer and sell remaining land and make residential--cost $90-120 million, ($60 million to redo Mercer) annual revenue $4-6 million.
The council is supposed to review the options as well as seek input from residents and others to decide which direction.