A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Evaluating Lease-Purchase Financing for Professional Sports Facilities
In 2012, the city of Seattle, Washington, entered into a public-private partnership (P3) whose goal was the construction and operation of a new sports arena. The cornerstone of the P3 was a unique lease-purchase financing (LPF) agreement markedly different from lease-purchase contracts that governments typically use for acquiring capital goods. This article has a twofold objective. First, it details Seattle's agreement and contrasts it with other relevant P3s. Second, it identifies a number of potential sources of additional public costs and risks overlooked in the subsidy debate. Because it offers local governments and franchise owners a number of benefits, it is anticipated that Seattle's lease-purchase model will be used by other municipalities in the future. This case study can be used in future LPF subsidy debates to improve public-sector outcomes. [web URL: http://uar.sagepub.com/content/51/6/905.abstract]
Evaluating Lease-Purchase Financing for Professional Sports Facilities
In 2012, the city of Seattle, Washington, entered into a public-private partnership (P3) whose goal was the construction and operation of a new sports arena. The cornerstone of the P3 was a unique lease-purchase financing (LPF) agreement markedly different from lease-purchase contracts that governments typically use for acquiring capital goods. This article has a twofold objective. First, it details Seattle's agreement and contrasts it with other relevant P3s. Second, it identifies a number of potential sources of additional public costs and risks overlooked in the subsidy debate. Because it offers local governments and franchise owners a number of benefits, it is anticipated that Seattle's lease-purchase model will be used by other municipalities in the future. This case study can be used in future LPF subsidy debates to improve public-sector outcomes. [web URL: http://uar.sagepub.com/content/51/6/905.abstract]
Evaluating Lease-Purchase Financing for Professional Sports Facilities
Geoffrey Propheter (author) / Megan E Hatch
Urban affairs review ; 51
2014
Article (Journal)
English
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