The proposed $130-million, four-story project now has anexpected opening in January 2003—once financing is secured by SanJuan Capistrano-based developer Gotcha Glacier LLC.
The extension moves the start date for a lease from Aug. 15 toNov. 30 and costs Gotcha Glacier another $100,000 on top of the$200,000 the development partnership has previously spent innon-refundable extension fees.
As part of the lease agreement, Anaheim will receive apercentage of revenue from the naming rights. Anaheim also requiresGotcha Glacier to use the name "Sportstown" in its title. For thefirst 25 years of the agreement, the city will receive 5% of annualgross revenue from Glacier.
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