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We'll never know, Frank, but I suspect if built privately, they would be dumps. No more stylish than bingo halls. I would not want that in a downtown I want to attract major corps in.
We'll never know, Frank, but I suspect if built privately, they would be dumps. No more stylish than bingo halls. I would not want that in a downtown I want to attract major corps in.
Why would an owner who wants to attract fan$ to his stadium build a dump?
FWIW its usually the public facilities that get dumpy.
Some other city will build them, taking the jobs and tax revenue generated.
The tax revenue argument is a bunch of nonsense. These things never pay off. Glendale AZ is a prime example. The city is in hock to it's eyeballs, has had to raise sales taxes, and is still looking at possible bankruptcy. The lost millions on the Super Bowl to make matters worse. Goodyear, AZ is another. They took out bonds to build spring training facilities that have never broken anywhere near even as they were lead to believe by the con artists from MLB. So now they dip into general revenue funds and let other needs go to cover the debt service. Cities vie for these things because of the prestige, not the income. Then they learn that prestige doesn't pay the bills and the taxpayers foot the tab for the difference on top of subsidizing the billionaire owner in the first place.
Ponderosa 1.7 mill visit the Cactus League, 1 was one of them..full hotel $150 per night.for a week..15% tax..120 rooms.
One hotel = $18k tax in a week. Scottsdale has 50 plus hotels. Add another $10-20k on other taxes collected on dining, restaurants, etc..due to one hotel..one week.
LOL not breaking even.. In the black big time. Printing money.
The tax revenue argument is a bunch of nonsense. These things never pay off. Glendale AZ is a prime example. The city is in hock to it's eyeballs, has had to raise sales taxes, and is still looking at possible bankruptcy. The lost millions on the Super Bowl to make matters worse. Goodyear, AZ is another. They took out bonds to build spring training facilities that have never broken anywhere near even as they were lead to believe by the con artists from MLB. So now they dip into general revenue funds and let other needs go to cover the debt service. Cities vie for these things because of the prestige, not the income. Then they learn that prestige doesn't pay the bills and the taxpayers foot the tab for the difference on top of subsidizing the billionaire owner in the first place.
Well stated, and interestingly there has always been agreement between far right and far left on this matter. When billionaire Paul Allen sought a tax-funded football stadium, Ralph Nader showed up to argue against it. Nader said that it was socialization of costs and privatization of profits, which was spot on.
It was the moderates on both sides that supported taxing Joe Sixpack in order to subsidize billionaire owners and millionaire players.
Thanks to unexpectedly strong tax revenue from a hotel tax, King County (Seattle) will finally pay off the cost of building the KingDome pro sports stadium in 2015. Construction started in 1972, 43 years ago. The KingDome design was based on the eggshell, one of nature's strongest shapes. The architect said that it would last 1000 years. It was demolished 25 years after it opened, because the pro sports owners wanted new tax-funded venues that could generate more revenue, especially from corporate luxury box clients.
Since 1995 we have built three more tax-funded pro sports stadiums, and there is an ongoing effort to build another new NBA stadium since the Sonics left town, 13 years after their new digs were deemed inadequate.
Now they can focus on how much the next boondoggle will cost them... The viaduct tunnel.
Like I always say, " There is no end to what some people are willing to do with other peoples money".
Thanks to unexpectedly strong tax revenue from a hotel tax, King County (Seattle) will finally pay off the cost of building the KingDome pro sports stadium in 2015. Construction started in 1972, 43 years ago. The KingDome design was based on the eggshell, one of nature's strongest shapes. The architect said that it would last 1000 years. It was demolished 25 years after it opened, because the pro sports owners wanted new tax-funded venues that could generate more revenue, especially from corporate luxury box clients.
Since 1995 we have built three more tax-funded pro sports stadiums, and there is an ongoing effort to build another new NBA stadium since the Sonics left town, 13 years after their new digs were deemed inadequate.
Ponderosa 1.7 mill visit the Cactus League, 1 was one of them..full hotel $150 per night.for a week..15% tax..120 rooms.
One hotel = $18k tax in a week. Scottsdale has 50 plus hotels. Add another $10-20k on other taxes collected on dining, restaurants, etc..due to one hotel..one week.
LOL not breaking even.. In the black big time. Printing money.
You presume that the hotels would be empty without spring training. I am not making this up. It is a big issue around here. All the cities are taking a beating on spring training except maybe Mesa with the Cubs. We have been told it is due to the recession and it will get better. In the meantime, we will be taxed more to cover your fun and the owners profits.
so just 13 years more than a standard mortgage, whats your point ???
I had a 30 year mortgage. Paid the house off in 13 years. I still live in it. What is your point?
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