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Pegulas Spending $$$ on Improvements at New Era Field


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I would also need the roof to actually be open often. It seems many of these indoor facilities rarely open the roof, even on a nice weather day,

The first game of the Toronto series, pre-season against the Steelers, when we drove by the stadium the roof was open, but they ended up closing it before the game started, even though it was nice weather outside.

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The first game of the Toronto series, pre-season against the Steelers, when we drove by the stadium the roof was open, but they ended up closing it before the game started, even though it was nice weather outside.

Side note: I went to a baseball game there and it was open. Went for a little walk to check the place out and when I returned it was closed. Apparently it started to drizzle and it surprised me with how quickly it happened!

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This is a commercial property. Hit is obviously intentionally under assessed. This is why the Pegula group is pissed that the deal was made public.

 

The value of the property is what Pegula paid for it. He essentially bought a tax free building and doesn't want the taxpayers knowing this.

But, and this may be a dumb question, aren't real estate transactions a matter of public record? So people would've found out one way or another, unless Los Peguals used a dummy corporation to make the purchase?

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But, and this may be a dumb question, aren't real estate transactions a matter of public record? So people would've found out one way or another, unless Los Peguals used a dummy corporation to make the purchase?

They didn't technically buy property. They bought a company that had property as an asset. Company sales are not public record.
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But, and this may be a dumb question, aren't real estate transactions a matter of public record? So people would've found out one way or another, unless Los Peguals used a dummy corporation to make the purchase?

Another side note: Some states (but not NY) are what are termed "non-disclosure states", and the property records do not include any info concerning transactions. In some rural areas of Mississippi and Alabama there is no MLS, and public records are unavailable. Try getting a good real estate apparaisal in those backwater messes. I've seen plenty of people taken advantage of due to a lack of info. You can often indicate "$10 and other considerations" for a deal, but if you calculate the deed stamps (a certain $$ per thousand usually) you can back into a purchase price. This ends the useless and un-requested side note.

 

 

Oh, and Kirby has a good and actually relevant point.

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I'm okay inside as long as it has character. Angie's example is a good one, that place in Georgia didn't and the new one looks amazing. I like the warehouse feel and could get behind it, especially if they carry on the tradition of some of the famous cuisine. The detail will make or break it. It has to have soul.

 

Don't forget it has to have wine and cheese to go with the PSLs.

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They didn't technically buy property. They bought a company that had property as an asset. Company sales are not public record.

And this is why the Pegulas were upset the sale price was revealed. The whole deal was set up to conceal the purchase price. Otherwise, the Pegulas could have simply bought the properties from the other family's holding companies, straight up.

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  • 1 month later...

@thebuffalonews

The #Bills want a new outdoor practice field for the team, but they don't want to pay taxes on it.

http://buffalonews.com/2017/03/21/erie-county-legislators-spurn-ownership-bills-practice-field/?utm_campaign=puma&utm_medium=social&utm_source=Twitter#link_time=1490138020

MAGA. Isn't Tax Free all the way the American dream?

Edited by ShadyBillsFan
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@thebuffalonews

The #Bills want a new outdoor practice field for the team, but they don't want to pay taxes on it.

http://buffalonews.com/2017/03/21/erie-county-legislators-spurn-ownership-bills-practice-field/?utm_campaign=puma&utm_medium=social&utm_source=Twitter#link_time=1490138020

 

"The Bills are preparing to spend $4.5 million to build the practice field, according to a team statement. That work would be done by local contractors."

 

wow, that's a expensive practice field

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"The Bills are preparing to spend $4.5 million to build the practice field, according to a team statement. That work would be done by local contractors."

 

wow, that's a expensive practice field

Not really, We had a field put in at our High School. that was 1.4 million. Cut a lot of corners. When money is not the object you put in all the amenities.

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Not really, We had a field put in at our High School. that was 1.4 million. Cut a lot of corners. When money is not the object you put in all the amenities.

I don't know what state you are located In, but in New York State if any State money is used, all labor must be paid at union rates which drives up cost. The Bills (private company) are paying $4.3 million for the field on property of their landlord. Do you think this improvement and terms were not talked about ahead of time by the Bills and County? Other NFL teams have heated grass practice fields so perhaps that might be part of the $4.3 million construction cost. On a side note, the Bills had another outdoor grass practice field now used by youth football leagues. It's maintained by the Bills. I would guess it cost more than $1,600 a year to maintain. Does anyone know of any other NFL team that has a youth field on their stadium grounds?
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The ideal example is Lucas Oil Field. Built for only $750mil, and it was designed to blend in with the industrial warehouses that surrounded it.

 

And it's not like New Era has a ton of personality, just a lot of history. But it's basically a big, cold cement bowl in the ground. Especially when compared to the old War Memorial, but now you love New Era, so folks will eventually come around.

 

That's a nice stadium...an example that you don't need to spend $2 billion to get a good stadium built.

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