Speaker 0: vote for 77 for a comment under bills for final consideration. The items have been called out and under pending. No items have been called out or miss anything. All right. Madam Secretary, if you'll please put the first item on our screens and Councilman Flynn, you can go ahead with your comment.
Speaker 8: Thank you, Mr. President. I just wanted to make note, because this is going to pass in a block vote without any further comment that this agreement with the Cranky Arena Company LLC and the Denver Nuggets and the Avalanche is sort of a revamping of the 1997 agreement that built Pepsi Center in the first place in the old railyards down off area Parkway. And from all of my observation, and I think that of most other folks up here and on the staff, that 97 agreement was was a very positive one and worked well. And as a result, a few years before its expiration in 2023, we're revamping it and extending it. We're turning the land back over to the owner, which is now the cranky arena company. I think in 97 it was Ascent, the ascent group that put the Pepsi Center together and brought the avalanche to town. This agreement will assure that the Denver Nuggets and the Colorado Avalanche play in Denver through 2040 instead of the deadline we were looking at in 2023. And it also commits them to play at Pepsi Center through 2030, which gives a ten year window in the event that there's a desire on the cranky organization to pursue a relocation and perhaps use the Pepsi Center for some other purpose. But through 2040, we will have those teams in Denver playing in Denver and maybe a few more playoffs. It'd be nice if they were both in the playoffs the same year, every year when that. But I just wanted to congratulate the staff, the city attorney's office, for putting this together and for painstakingly helping me walk through the very complicated arrangements. Thank you, Mr. President.
Speaker 0: Thank you, Councilman Flynn. Councilman Brooks?
Speaker 1: Yeah. I just want to thank Councilman Flynn for bringing this up and me representing this district. Want to say a couple words. You know, individuals in the city of Saint Louis and individuals in the city of Seattle understand how important it is to keep your sports team. And so this is just not a benign bill going through. It was a painstakingly tough deal to get done. And hats goes off to the mayor's administration and the legal team to make sure, number one, that we don't lose anything. The city doesn't give up anything in this negotiation, in this contract. But we gave a team in our city for quite a bit of time to come. I also want to harken everyone's attention to we did the River Mile Park Project in putting some of the affordable housing requirements and the design elements and whatnot. In in that conversation was also this portion of redevelopment opportunities. And so in that contract we talked about the future of building out these parking lots as well. And I'm glad that the city saw the opportunity to take advantage of this now so that we can begin to talk about this for the next 20 years. So hats off to everybody. I think it's a win win all the way around. And Denver continues to have cool teams and that's a good thing.
A resolution approving a proposed Amended and Restated Denver Arena Agreement Including Basketball and Hockey Commitments Agreement between the City and County of Denver and Kroenke Arena Company, LLC, The Denver Nuggets Limited Partnership and Colorado Avalanche, LLC. 
Approves an agreement with Kroenke Arena Company, LLC, The Denver Nuggets Limited Partnership, and the Colorado Avalanche, LLC, through 06-30-40 to extend the teams’ obligations to remain in the City and maintain certain use rights at the Pepsi Center beyond the current term expiration date, in exchange for an early termination of the current Ground Lease and conveyance of the land to Kroenke Arena, and a release from certain financial covenants in accordance with the terms and conditions of this Agreement (FINAN-201950342).The last regularly scheduled Council meeting within the 30-day review period is on 6-24-19. The Committee approved filing this item at its meeting on 5-21-19.