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I like sports a lot. However the older I get, the less tolerance I have for giving tax breaks to billionaires so they can get the public to pay for their toys. I completely understand nowadays my elders who opposed Spectrum Center 20-ish years ago even though I as about a 15 y/o who knew nothing about paying taxes was all for the project.
Rule #1 in becoming wealthy and rich, use as little of your own money as possible.
Rule #2, see Rule #1!
In all seriousness, the extremely wealthy and extremely poor are always the first in line for government handouts.
Some may be over reacting without all of the facts. First, Tepper has spent $170 million of his own money. He does not walk away. But if he did, he still owns the property. He would develop it or sell it. The interchange would get finished and another business would finish the development. But neither wants to walk away.
Second, if you search hard enough, you will find the truth. I did. Rock Hill signed a contract stating that they would either provide the bonds or build the infrastructure. The city agreed to this. But they did not have the money to secure the loan. Tepper put Rock Hill on notice one month ago. Rock Hill came to Tepper with a new deal. Rock Hill wanted Tepper to pay for the infrastructure because they did not have the money. Then Rock Hill would provide tax incentives over a period of years for Tepper to get his money back. This was not part of the contract and Tepper would not agree to this.
Then some politicians in SC made false accusations and accused Tepper of not meeting his obligation when it was the other way around. Of course, this is typical of politicians. They are trying to cover their arse to the public. They want to shift the blame. Too much money has been spent for this project to fail. I don’t think Tepper wants to get into the developing business. And the city of Rock Hill and SC want the benefit of the development. Both have said they want the development completed. Tepper just wants Rock Hill to uphold their agreement.
Rock Hill just didnt get the money as the contract said. You cant make the bill deals and then end up saying you got no REAL cash money,,,,,,
In one of the above links, Rock Hill refutes that claim.
The County got in on it...
The Governor reached out to the team...
If Tepper wanted to put this together, he'd have put it together. York County offered him tens of millions of dollars in tax incentives to go forward with the project; I don't know what incentives the Governor offered, although I cannot imagine the Governor's office being so strapped for discretionary funds, or a lack of political might, that he couldn't save the project.
It doesn't make sense.
Either the misunderstanding between Tepper and the City so upset Tepper, that, on principle, he refuses to go forward - and in so doing forfeits whatever monies he has already put into the project - quite a structure is already erected, yet he'll lose it all - or there's another reason that's left untold.
Rock Hill can refute the claim all they want. They are not telling the truth. Rock Hill said that they had done all they could do without negatively impacting the tax payers or something to that effect.
Will Fork is founding editor of Fitsnews. Prior to that he served as press secretary for the Gov of SC. He breaks it all down. He said the he knew before the deal was made that Rock Hill did not have the money to secure the loan. Search - Carolina panthers deal: rock hill South Carolina is coming up short - on fitsnews.
The politicians are trying to shift the blame. But Tepper still wants the deal done. But I bet he is pissed after SC politicians have thrown him under the bus.
Will Fork is founding editor of Fitsnews. Prior to that he served as press secretary for the Gov of SC. He breaks it all down. He said the he knew before the deal was made that Rock Hill did not have the money to secure the loan. Search - Carolina panthers deal: rock hill South Carolina is coming up short - on fitsnews.
The politicians are trying to shift the blame. But Tepper still wants the deal done. But I bet he is pissed after SC politicians have thrown him under the bus.
Appreciate the reply.
So if what you're saying is true - I am not saying that it isn't - the Governor couldn't come up with funds to salvage the deal?
So if what you're saying is true - I am not saying that it isn't - the Governor couldn't come up with funds to salvage the deal?
Something doesn't make sense.
The Governor probably had no tools other than calling a billionaire and being like "Hi it's me, the Governor, please don't walk away from this project." It isn't like the state just has billions of dollars sitting around waiting for the Governor to play with, so he would need the legislature to get funds. I think the lack of tools is why SC's Governor was so vague in what they talked about and what he offered Tepper other than telling the media "don't worry I talked to him."
The Governor probably had no tools other than calling a billionaire and being like "Hi it's me, the Governor, please don't walk away from this project." It isn't like the state just has billions of dollars sitting around waiting for the Governor to play with, so he would need the legislature to get funds. I think the lack of tools is why SC's Governor was so vague in what they talked about and what he offered Tepper other than telling the media "don't worry I talked to him."
Appreciate the reply. Basically, from my understanding, it's a matter of 80 million dollars, to fund infrastructure e.g. roads, water, sewer.
That's it.
I cannot imagine that someone at the State level cannot come up with the funds.
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