The jury is still out, but within a few months, the Roberts Stadium Advisory Board is expected to return from hundreds of hours of discussion over the future of that facility with a verdict: Renovate or build new.
But that won't end the debate. City leaders will still have to approve the recommendation and then answer the question all taxpayers want to know whether the decision is to renovate or build a new stadium: How are you going to pay for it?
Tom Chema of Gateway Consultants has presented a uses and sources comparison for four options: A renovation of Roberts Stadium with 10,000 seats; a new arena at the Roberts Stadium site with 10,000 seats; a new arena at a different location with 10,000 seats; and a new arena at a different location with 14,000 seats.
Essentially, the uses are the costs for each option, and the sources are the different revenue streams. Chema has stressed that these numbers are estimates, but he is confident that they are reliable based on what other cities have done with new sports facilities.
A wealth of information has been presented, and more is still to come.
An advisory board meeting to discuss potential locations for a new stadium is planned for March 5. A public hearing where citizens can pose questions to Chema is scheduled for April 1. Board President Wayne Henning expects a recommendation to be made sometime in May.
That will fall at the feet of city leaders. Some have tipped their hands in favor of a new Downtown arena.
Mayor Jonathan Weinzapfel has acknowledged that, assuming Chema's report is accurate, building a new arena Downtown could generate the most funding sources to offset the cost of construction. But Weinzapfel has insisted that the city will move methodically through the process and make a decision only after all voices and options have been considered. Here is a look at the first two options.
This option is estimated to cost $40.4 to $91.9 million.
Raising the stadium's roof is estimated to add $9 million to the cost. Tom Chema of Gateway Consultants, who the city hired to study the stadium, has said that the roof lacks the rigging capacity - the amount of weight it can hold for speakers, lighting and other equipment - to support many modern entertainment acts.
Another reason for the broad range is Chema was unsure how extensive a renovation the city might want to do.
Background on the stadium
Roberts Stadium opened in 1956. The city issued $1.5 million in bonds to pay for construction, and over time the stadium paid for itself.
It was renovated in 1990 for $16,371,567 million. The renovation added side concourses, air conditioning and 1,080 retractable seats. The stadium's wooden bleachers were replaced with chair back seats, and the floor was lowered. Some critics have said lowering the floor was a mistake because it pushed the stadium deeper into the water table.
In 2005, rising water beneath the stadium damaged the floor and electrical equipment. Engineers hired to investigate the cause determined that bacteria caused a sludge buildup that clogged the sump pipes. The city spent $282,563 to fix the flooding problem.
The stadium was reroofed in 2002 for $629,559. The repair came after a leak in the roof caused a rain delay at a University of Evansville basketball game.
The roof's rigging capacity is 60,000 pounds. SMG, which operates the stadium, would like a roof that could support up to 150,000 pounds, which they say is required by most modern concert and show venues. Chema suggested the roof could be raised or replaced for $9 million to $9.2 million.
But Scott Moore, an engineer for SMG, said raising the roof didn't seem possible or make financial sense, based on conversations he had with one of Chema's structural engineers.
In 2002, the stadium's parking lot, which has 3,590 spaces, was repaved for $363,648. That same year, the city paid $128,000 for a new sound system. The stadium's speakers were blown, so they were replaced along with the amplifiers that powered them, Moore said.
The sound system is used for events such as University of Evansville Basketball games. Performers bring their own sound equipment, Moore said. Even with the repairs, SMG officials have said that the sound system is inadequate by modern standards.
The city also spent $134,127 in 2003 for a stage upgrade. "We got new staging, and it's really good staging, one of the best brands out there," Moore said. "Our old stage was pretty beat up."
OPTION TWO
A new stadium on the Roberts Stadium site (10,000 seats)
This option is estimated to cost $86 million. The city owns the property, so there would be no land acquisition costs.
But if the city needed additional land to build a new stadium and looked to use the Par 3 golf course at nearby Wesselman Park, there could be public opposition.
The Evansville Convention and Visitor's Bureau suggested building a sports complex there, but Mayor Jonathan Weinzapfel nixed the proposal after the city received responses from hundreds of people, many of them concerned with how the development would affect the adjacent Wesselman Woods Nature Preserve.
Much discussion has been made about how a new arena would affect economic growth surrounding it.
Chema said it is unlikely that a new stadium on the same site would stimulate new development, based on the few businesses that have opened in the area since Roberts Stadium was built.
The revenue stream for a new stadium at the same site would be identical to the one for a renovation. Chema estimated the revenue stream at $35.75 million, significantly less than the $111.25 million that he said could be generated for a new arena at another location. He has said that building a new arena Downtown would have the greatest revenue potential.
Here's a breakdown of how potential revenues for both options - renovating the existing stadium and building a new one on the same site:
Naming rights and Founders, $6 million.
This amount is less than half what a new stadium at a different location could get, Chema said. Companies have traditionally paid less for changing a name because one of the obstacles they have to overcome is the old name of the facility.
Revenue bonds/arena support, $6 million.
Chema estimated annual net revenues from a renovated Roberts Stadium or a new arena to be $400,000. He based that on the total number of events that have been attracted to the stadium and the ticket prices that could be charged. If that estimate is consistent over a period of 25 years, then this source would generate $6 million.
Gaming revenues, $15 million.
The lease on the riverboat will be up for renewal about the time the city would begin construction of a new arena if the city makes that decision. This source could capture around $15 million, Chema said. This amount assumes a one-time capital payment for lease renewal, plus annual revenue to support debt bonded by the city.
Community Revitalization Enhancement District, $750,000.
Indiana has a program in which cities can create a community redevelopment district and get a rebate of sales and employment taxes. This source is capped at $750,000.
Innkeeper's tax, $8 million.
Some cities have chosen to divert a portion of this revenue to supporting public assembly facilities, Chema said.
That $8 million would be earned over a 20- or 25-year period, he said.
OPTION THREE
A new arena (10,000 seats)
This option is estimated to cost $93 million.
Tom Chema of The Gateway Group said approximately 5 acres to 5.6 acres would be needed to build a new arena, assuming that there is no surface parking added around it.
Several Roberts Stadium Advisory Board members have publicly endorsed this option - specifically building Downtown.
Chema has said that would allow the city to take advantage of several funding options not available at other sites.
Building a new arena Downtown would:
Allow the city to get up to $14 million for naming rights. Although the figure is not location dependent, Chema said naming rights for a Downtown arena would be the most attractive because of the exposure. More people would drive and walk by the building.
Additionally, some of the larger companies in Evansville such as Vectren and Old National Bank already have headquarters in Downtown, so the signage could complement their existing facilities. (Neither business has publicly expressed interest in naming rights for a new arena.)
Allow the city to earn up to $2 million in federal transportation support funds. This is a program established by the government to create transportation centers such as bus stations at urban facilities. Chema suggested that the University of Evansville could utilize this for sporting events.
Make it more likely that Casino Aztar would support the project. Chema said he has not had any discussions with casino representatives, but the Downtown location would be favorable because of the proximity to the riverboat. He estimated gaming revenues could generate $15 million for a renovation or a new stadium. That figure assumes a one-time capital lease renewal plus annual revenue to support bonded indebtedness by the city.
The lease on the riverboat will be up for renewal in a few years, around the time the city would begin construction of an arena if the city makes that decision.
Capture $32.5 million in Tax Increment Financing funds. Downtown is located in a TIF district, which allows the city to use tax money gained through increases in assessed property values on district development.
Make the city eligible for a New Market Tax Credit, which Chema estimated would net $18 million. The New Market Tax Credit is a federal program designed to stimulate investment and economic growth in low-income urban neighborhoodsand rural communities.
Net $15 million in city refinancing food and beverage tax money, a revenue source that would be available only if an arena was built Downtown, Chema said. This amount would be earned over a 20- or 25-year period, Chema said.
OPTION FOUR
A new arena (14,000 seats)
This option is estimated to cost $166.9 million. It is the most expensive of the four options and has been the least discussed among the Roberts Stadium Advisory Board.
An arena of this size would need significantly more land than a 10,000-seat arena, perhaps even twice as much, Chema said.
The draw of a larger arena would be its potential to attract bigger entertainment acts and tournaments. An arena this size would make Evansville eligible to host an NCAA Division I Tournament subregional. But, as one of the Stadium Advisory Board members noted during a meeting, Evansville likely would be at a competitive disadvantage even with a new arena because many of the cities hosting subregionals have arenas with 20,000 seats or more.
Chema has identified 12 potential locations for a new stadium. He cautioned against revealing those locations because he said doing so could cause the land owner to hike the price.
A 14,000-seat arena would make Evansville's facility the largest among the cities studied by Convention Sports & Leisure, a Wayzata, Minn., sports consulting company that partnered with Gateway to review nine cities of comparable size that have built new arenas.
The city with an arena closest in size is Bossier City, La., home of the CenturyTel Center, a 13,200-seat arena that opened in 2000. The arena cost $60 million to build.
Chema has said the cost of building a new arena has risen significantly in recent years because of increases in supplies used to build them, such as steel and oil.