Tonight in Glendale, city councilors will present to the public and vote on a plan to use City Hall as collateral to help pay down the various “interfund” loans the city took out to pay the NHL to manage Jobing.com Arena, the home of the Coyotes.
The debt the city seeks to repay goes back to two $25 million commitments the city made to the National Hockey League to operate the arena in fiscal 2011 and 2012, said Diane Goke, the city’s chief financial officer.
Glendale borrowed $45 million largely from its own enterprise funds, which are self-sustaining funds for such services as water and sewer and are separate from the city’s general fund.
If the council approves the plan, city officials will seek outside investors to lease back the City Hall complex for 20 years by making a one-time, up-front payment of $30 million.
We won’t get into all the details here, because, you know, pretty boring. If you’re desperate for more information, here’s a PDF.
Bottom line: Glendale is in quite the financial predicament, and the cash-strapped city still has a huge decision to make on whether to enter into a long-term arena-management deal with prospective Coyotes owners Renaissance Sports and Entertainment.
Of note, the NHL may reportedly make it easier on the city if the sale does go through.
It’s been getting that spotlight since the Columbus Blue Jackets faced off against the Pittsburgh Penguins in a brisk playoff series, though it wouldn’t be surprising if the bad blood stemmed to Dubinsky’s days with New York.
To some, Dubinsky’s cross-check on Crosby will resonate far more than the end result of this game:
The bottom line is that he’ll get the last laugh, at least for now. (In-game, that moment merely drew a minor penalty.)
That’s because Dubinsky set up the overtime game-winner, and the cherry on the top of that spite sundae came with Crosby being on the ice when it happened:
They’re not just rubbing the Penguins the wrong way.
Cheap shot on a superstar, a little uncalled goalie interference and presto – Blue Jackets win!
The Buffalo Sabres probably deserved better during at least some chunks of their six-game skid, yet Jack Eichel swooped in on Friday to remind fans that there’s a light shining at the end of the tunnel.
You can watch his goal from tonight’s eventual 4-1 win against the Carolina Hurricanes in the video above.
That’s not necessarily the absolute height of his on-ice magic, yet it clearly gave his team a lift:
Coach Bylsma: Feel like after Jack's goal, the game changed for us. #gamechanger