The Glendale, Ariz., City Council will consider a preliminary fiscal 2013 budget today that includes a $17 million payment for operations of the city-owned Jobing.com Arena.
Greg Jamison, who is attempting to purchase the facility’s main tenant, the National Hockey League’s Phoenix Coyotes, has agreed to operate the arena.
Initial plans called for a 20-year lease, with management fees of $20 million a year through 2020 and $15 million a year thereafter.
City officials said Jamison has agreed to a lower fee in 2013 and an average of $14.5 million a year over the period.
Vice mayor Steve Frate said the $17 million is a tentative figure. He said the exact amount of the fee will not be known until the Coyotes purchase has been completed.
The council is expected to vote on a final budget June 12.
Glendale’s general obligation debt is rated Aa3 by Moody’s Investors Service and A-plus by Standard & Poor’s.
