Council to Reconsider Ellman's Project

PHOENIX-The City Council in the suburb of Scottsdale will meet tonight to reconsider plans to build a $557-million sports and entertainment facility, now that the developer has rejected the council’s request for additional financial information about his own company and the project itself.

The outcome of tonight’s discussions could either breathe new life into the controversial project or cut the legs out from under it. Since June, Scottsdale officials have been asking Phoenix-based Ellman Cos. to disclose additional financial information to prove that Ellman has the backing to complete the development and determine what kind of return the city would get from the $100-million subsidy it has promised.

Ellman has supplied some, but not all, of the requested information. Providing all the financial statements and related documents the city wants would mean breaking confidentiality agreements that the company has made with current investors and prospective ones, the firm says.