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Coliseum: Everything Must Go
City races to empty building of assets
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Business New Haven
9/16/2002
By: BNH
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Want to make that hockey fan on your gift list swoon? How about getting him or her…a Zamboni machine?
In order to take the wind from the sails of a nascent save-the-Coliseum movement, the city of New Haven has moved rapidly to strip the doomed Veterans Memorial Coliseum of virtually all its fungible assets.
To that end, the city has hired Guilford auctioneer TI Auctions LLC, which will auction off the building's removable assets beginning at 10:30 a.m. on September 19.
Those assets range from the arena's overhead scoreboard to production lighting and fitness equipment as well as some 8,800 Coliseum seats.
Also, kitchen equipment, locker-room fixtures, ice-resurfacing equipment (including not one but two Zambonis), vehicles, office furniture, computers and memorabilia such as posters.
An inspection session will take place at the Coliseum the previous day, September 18, from 8:30 a.m. to 4:30 p.m.
The city announced in July that the Coliseum would be razed. However, the timetable for the actual demolition is dependent upon securing state financing for the project, expected to cost upwards of $20 million.
The city faces potential lawsuits from at least two parties with interests in the Coliseum. The New Haven Ninjas arena2 professional football team was in the middle of a two-year lease at the time the closing was announced, and Ninjas officials have said they may seek legal redress. Also considering a civil claim are organizers of an automotive exhibition scheduled for this autumn at the Coliseum.
The city also still pays about $1 million in annual debt service on the Coliseum's construction, completed in 1972. About $9.6 million in principal remains outstanding.
A $100 cash deposit or cashiers check is required of all auction participants at time of registration. All equipment must be removed by September 27. A ten-percent buyers' premium will be applied to all sales, which are final.
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