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10-27-2009, 03:42 PM
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Senior Member
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Join Date: Sep 2006
378 posts, read 248,099 times
Reputation: 165
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Harris County-Houston Sports Authority may need taxpayer rescue
Are Harris County property taxes about to go up?
Quote:
Harris County taxpayers may have to inject up to $7 million a year into the Harris County-Houston Sports Authority for the next two years due to a financial crisis sparked by the souring of bonds used to build Minute Maid Park, Reliant Stadium and the Toyota Center.
Facing balloon payments on $117 million in variable-rate bonds, the authority now is obliged to pay off the debt in five years instead of 23 years. That would require $24 million a year — a figure that, together with more than $30 million in additional obligations, would push the authority to the brink of insolvency.
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10-27-2009, 04:19 PM
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Senior Member
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Join Date: Mar 2009
Location: Katy
328 posts, read 145,984 times
Reputation: 170
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Glad I don't live in Harris County anymore
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10-27-2009, 07:23 PM
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Senior Member
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Join Date: May 2007
Location: A little suburb of Houston
2,573 posts, read 2,189,838 times
Reputation: 783
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Knew this would happen, that is why I voted against this and the light rail. The whole thing was a swindle to begin with and the same folks are running Metro and conducting some pretty questionable financing w/ regard to the light rail construction.
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10-27-2009, 10:38 PM
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Senior Member
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Join Date: Oct 2009
Location: Houston/Heights
2,644 posts, read 452,470 times
Reputation: 785
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Let em whistle for it. I knew it was a bad idea to start with.
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10-27-2009, 11:38 PM
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Senior Member
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Join Date: Feb 2007
Location: Houston
515 posts, read 529,666 times
Reputation: 87
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A few million here or there is worth it for football.
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10-27-2009, 11:53 PM
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Senior Member
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Join Date: Oct 2009
Location: Houston/Heights
2,644 posts, read 452,470 times
Reputation: 785
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"Roller Derby" is the only legitimate Houston sport. Our Ladies are going to the National championships in Phylidephia in December, and not one word about them anywhere. Not even a facility for them to Play their sport in. These are Houston Ladies, paying for everything them selves, with yard sales, bake sales, and car washes. I couldn't care less about a bunch of Professional over paid hired guns, from who knows or care where. I support "Houston Athelets". they need and deserve it. Give them the Astrodome.
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10-29-2009, 05:43 PM
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Senior Member
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Join Date: Feb 2009
Location: H-town, TX.
677 posts, read 250,065 times
Reputation: 216
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You can't give them the Dome...it's not paid off, either, last I checked. Bud Adams' hostage bonds from the late 80s are still out there.
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