Syracuse University released a letter today that was sent to Mayor Stephanie Miner regarding a possible new sports stadium in Syracuse.

The letter responds to the questions Miner had for SU Chancellor Kent Syverud about the project, and outlines other details of a potential arena.  The letter was written by Irwin Raij, a partner at Foley & Lardner law firm, co-chair of the firm’s Sports Industry Team and consultant for SU.

Raij said in the letter that the process began by creating a budget for a 44,000 seat retractable roof stadium that could host basketball, football and lacrosse events, as well as other events such as concerts. The initial cost is estimated at $495 million, not including parking or land acquisition.

Raij wrote it would take approximately four years for the stadium to be built and become operational.

He wrote no formal agreements have been made with government entities or developers, saying the project is still a “work in progress.”

Raij added that SU would be a tenant of the new facility, not an owner, and would pay rent.

The letter also outlined factors such as financing plans and site options. Raij wrote the possible finance plan depends. on investments from the state, Onondaga County and the private sector. SU’s investment would mainly be in the form of rent, he added.

One objective of the analysis was to establish criteria for choosing a site for the arena, Raij wrote. Those criteria included proximity to the SU campus, parking availability and overall economic benefit for the community.

“Land currently owned by the University, including Skytop, was considered, but it was determined that greater public benefit could be created if the stadium was not on University land,” Raij wrote.

The Loguen Crossing location became the leading site option, but Raij wrote that has not been secured for the stadium, adding that it would require additional discussion.

The details in Raij’s letter were in response to a letter Miner wrote on Jan. 10 to Syverud posing questions about the stadium’s financing, site considerations and how the stadium would affect things such as public services or traffic in the city of Syracuse.

Miner wrote that she appreciated the contributions SU makes to the community, including those involving athletics and entertainment, but added that “given the severely challenged fiscal and socioeconomic conditions in the City of Syracuse, it is critical that the aforementioned questions be addressed before any final decisions are made.”

Published on January 24, 2014 at 9:08 pm

Contact Brett: blsamuel@syr.edu | @Brett_Samuels27