The city, which would contribute $100 million to the developmentof the project, isn't happy with the deal Ellman has presented andwants to see more of a return for their money.
"We've saying, 'Wait a minute here, we also want to limited thelength of our debt and get a share of the revenue,'" says citymanager Jan Dolan, adding that she sent a letter to Ellman todaythat outlines the city's counterproposal.
The letter also asks Ellman to provide more detailed financialdocuments to show that he has the financial muscle to complete the$87-million purchase of the NHL Phoenix Coyotes and redevelop theformer mall.
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