In contrast, the 'public' (read: 'taxpayer') costs of the recently completed Lambeau Field re-enovations are being covered by a 0.5% sales tax in Brown County, WI. Revenues from that tax are running well ahead of projections and that public debt and the tax will both likely be retired by about 2011, several years ahead of schedule. The stadium authority will then be debt-free and the Packers are already operating at a healthy profit. With the re-enovations, the stadium is now a year-round attraction (it really is NFL Nirvana), bringing in lots of tourists and money, working well beyond everyone's most optimistic dreams.Jeff said:
The "Ballpark Village" (I am still hoping for a better name) was a trade-off with the city. The Cardinals are paying for about 50% of the ballpark, and promised the city and county that they would build the adjacent mixed use area in return for loans, street work, and tax abietment on the ball park. I think the number they pleged to it was 120 million (check the numbers I am doing all this from memory) If the Cardinals do not build the village in 5 or so years after the ballpark is completed, then they are on the hook for taxes on the whole thing. I would check with the Post-Dispatch, they followed the deal pretty close.the north omaha star said:
Well, yes, the "taxpayers" paid for the stadium renovations in GB. But, keep in mind that the "taxpayers" also own the team. So there's a much greater investment and ownership mentality among the residents of GB than you will find in any other major city.mgk920 said:
The principle doesn't change though. Any time a city offers any kind of assistance, they need to look long and hard at the economic ramifications. Unfortunately, they only look at reports specifically designed to argue their points, rather than relying on some type of independent study.the north omaha star said:
As professionals, we should be delivering that un-biases, thouroughly researched analysis. Having seen the work of many of my economic development counterparts, though, I realize that this is seldom the case. Whether it is due to incompetence, political pressure, or a desire to see thier project carried through, a majority of economic developers do not perform that analysis. Let's not just limit it to the economic developers, though. Too many planners let their biases influence their results, and the same is true of citizen groups.Breed said:
That's a good summation. Politicians are sports fans, too, which often colors their judgement. I recall back in the early 90's, a state legislator attempted to get a procedural rule passed that would mandate that a daily session of the State Legislature would end in time to watch Trail Blazer games on TV. He wasn't alone in supporting this idea, but his more reasonable colleagues shot the idea down.Cardinal said:
