Three state senators and several University of Hawaii officials will visit the new home of the Denver Broncos this weekend to explore the possibility of building a similar stadium on Oahu. Denver stadium
attracts isle visitHawaii state officials will
inspect the home of the Broncos
to see if the concept fits hereBy Crystal Kua
ckua@starbulletin.comThe group will meet on Saturday with team owner Pat Bowlen, who is a part-time Hawaii resident and business owner, to learn more about how Invesco Field at Mile High was built and financed.
"The Denver model is intriguing because it was the product of a public-private partnership. Such an effort, if adopted in Hawaii, could enable us to upgrade our Aloha Stadium and other facilities without the necessity of taxpayers footing the entire bill," Senate President Robert Bunda said yesterday.
Joining Bunda on the trip, which is being paid for by the state, will be Senate Vice President Donna Mercado Kim and Senate Minority Leader Fred Hemmings, who sits on the Broncos' board of directors. Also going are UH President Evan Dobelle, Athletic Director Herman Frasier, General Counsel Walter Kirimitsu and Hawaii Building and Construction Trades Council Vice President Lynn Kinney. The cost of the trip was unavailable last night.
Dobelle has suggested building a new stadium in West Oahu. He has also sought transfer of management of Aloha Stadium, currently managed by the Stadium Authority, to the university, which pays $800,000 for using the stadium for football games. The idea fizzled in the last legislative session.
Stadium officials said last year that the stadium is in need of about $1 million in repairs to avoid potential safety problems.
The Hawaii delegation will tour the 76,125-seat Invesco Field, which was completed last year, and receive briefings on the stadium's design, construction, financing, and management.
In 1998, Denver voters approved a plan to have taxpayers foot 75 percent of the cost of the stadium and the Broncos would pick up the remainder, according to local newspaper accounts. Taxpayers ended up paying about $300 million and Broncos about $100 million.
A penny-per-$10 sales tax helps repay the principal and interest on $245 million in bonds that were issued to fund the public's portion of the cost, according to news accounts.
Invesco Funds Group, a mutual fund company, also agreed to pay $120 million over the next 20 years for naming rights with half of the money going toward reducing the taxpayer debt and the other half to the Broncos.
A similar public-private partnership financing arrangement "would also help provide the infrastructure to stimulate the expansion of UH athletics, attract more concerts and large-scale events, and otherwise diversify tourism beyond beaches and sightseeing," said Bunda.
He said that sports can play an important role in stimulating Hawaii's economy, pointing to events such as the Honolulu Marathon and the Pro Bowl.
Invesco Field at Mile High