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Commission hears revised ISHOF financial terms, aquarium plan and public concerns
Summary
City staff and Hall of Fame partners updated the commission on the International Swimming Hall of Fame (ISHOF) project, proposing a higher minimum lease payment and waterfall adjustments to reduce city downside; developers described a 20,000 sq ft aquarium with live species. Residents raised traffic, resilience and community-access concerns.
City staff and partners representing the International Swimming Hall of Fame (ISHOF) presented amended financial terms and project details on Nov. 19, after months of negotiation on a comprehensive agreement covering lease, revenue sharing and project phasing.
What staff proposed: Susan Grant of the City Manager’s Office and ISHOF partners explained proposed changes including allowing the comprehensive agreement to accept grant awards, increasing the minimum annual lease payment from $11 million to $13.6 million, and reconfiguring the revenue waterfall so a larger initial non-lease bucket flows to the city (from $2 million to $4.75 million). Staff and the developer also…
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