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Not only stadiums, but assisting in relocation expenses for companies as well.
I tried to drum up an effort against the state and my local community giving a company a few million dollars to relocate some jobs from one place they were closing in another state, to the community I was in. I wrote that the CEO alone makes three times as much a year as the state a town was contributing, and that the company should front the costs.
I also do not like the race to the bottom in tax breaks and subsidies places give to companies just to get them to locate to the area.
It in many cases makes more money for the city in people it brings in than say libraries ;concert halls etc which often require yearly funding. n different than public transport that takes city and federal funds years because they run at huge loses.local city of 100K is spending 3.1 million a year to run bus line. its takes in 330k in fares.The rest is split between city and federal and federal they see as going away soon.
It in many cases makes more money for the city in people it brings in than say libraries ;concert halls etc which often require yearly funding. n different than public transport that takes city and federal funds years because they run at huge loses.local city of 100K is spending 3.1 million a year to run bus line. its takes in 330k in fares.The rest is split between city and federal and federal they see as going away soon.
The difference is public transit, libraries, parks, police stations, and fire departments are basically rudimentary city services. They're generally not that controversial. It's more a question of how much should be spent rather than should it be spent at all. Different matter when you get into using tax pay dollars for luxury hotels, marinas, luxury loft apartments, stadiums, millions of dollars to subsidize a pizzeria and a bar. I mean, how much public-interest does a for-profit bar really have? Is it worth spending millions of tax payer dollars on when you can just go a few blocks to the next one over?
Sure they are in cost factor. More so since much federal matching is going away. most stadiums are bought thru bonds which people vote on in most cities .just like building anything big. The bonds are often paid for with stadium use and with such things as motel/hotel tax on people who rent rooms. Just to business alone most sports bring in to community alone can be huge. Basically its often a better s deal than most things funded thru bonds that never pay for themselves and have to be continuingly funded from general revenues. Look at professional sports and see the waiting list. Fire and police are part of basic services and some like water and sewer are on going separate charge. As cost sharing goes away with federal dollars so will the cost mean transportation has to be more paid for by fares .Lots of changes coming with federal cost sharing that will means cities have to set priorities.
Sure they are in cost factor. More so since much federal matching is going away. most stadiums are bought thru bonds which people vote on in most cities .just like building anything big. The bonds are often paid for with stadium use and with such things as motel/hotel tax on people who rent rooms. Just to business alone most sports bring in to community alone can be huge. Basically its often a better s deal than most things funded thru bonds that never pay for themselves and have to be continuingly funded from general revenues. Look at professional sports and see the waiting list. Fire and police are part of basic services and some like water and sewer are on going separate charge. As cost sharing goes away with federal dollars so will the cost mean transportation has to be more paid for by fares .Lots of changes coming with federal cost sharing that will means cities have to set priorities.
Again, that's generally not true. The bonds are usually not voted on. They won't be in Sacramento, weren't for Yankee Stadium. On the other hand the new Niners stadium was voted on and approved. But often times, that isn't the case. More often than not, the tax payers reject the idea of paying for the arenas, which means there a lot of incentive to push them through without a public vote.
And yes, prior to the Bush administration there used to be a line in federal funding. It could be used for infrastructure projects but not for operating costs. Bush did away with that and opened up matching funds for operational expenses as well. Sort of similar with Redevelopment in California. The pizzerias and bars and luxury apartments were built with magic-honeypot money. The property taxes above the base year (1970) all went to Redevelopment agencies and then the State dipped into the magic-honeypot and reimbursed the cities for any money that was siphoned off.
With Redevelopment agencies shut down and the magic-honeypot removed, now you have to spend real tax money to do projects. I don't know that we'll see anymore remodeling of buildings for $1,200 per square foot like occurred when it was 40% free money from the state and 60% free money from the federal government. Just paying for 40%, you kind of have to think about costs. "Hey, the average cost per square foot in the area is more like $200 or less, maybe we don't want to pay $500 per square foot even if we're getting the other $700 for free."
In Colorado, we vote on EVERY tax. Still, the stadium vote passed for both Mile High and Coors Field.
Midwest sports-mania bleedover? Sacramento voted down the last stadium vote, given that one was a particularly stupid financing scheme even by arena standards. The last proposal(s) haven't been voted on and won't be voted on. Kind of hard, they all blur together into one quagmire that might actually get done since the Maloofs are finally out of the picture and someone who actually wants the taxpayer to build them an arena is in.
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