Rushed Billionaire Stadium Deals Risk Taxpayer Cost Overruns
When billions of dollars in tax money are at stake, rushing to get a sports stadium or arena deal approved just because the local billionaire is impatient is a great way to end up with unexpected costs. https://t.co/hpBA8l2cZC
Tax Cuts Could Add $1B to Bears' $2B Breaks
Stripping an amusement tax and adding in state infrastructure spending could add close to $1B more to the Bears' potential $2B in property tax breaks — plus cost local Illinois governments billions more in the future for other "megaproject" tax...
MLS Leverages Relocation Threats for Stadium Funding
Whether a move threat is realistic is almost beside the point if you just want to use it to shake down an existing host city for stadium dollars, which appears to be MLS's main goal here in leaking talk of...
Rays Push Stadium Approval Before DeSantis Exit, Owner Resists
Rays execs want a stadium signed off on before Gov. Ron DeSantis leaves office. That should give the city and county leverage to ask team owner Patrick Zalupski to lower his demands, but instead he's doubled down on asking officials...
Royals Stadium to Receive over $1.4 Billion in Public Funds
The Royals stadium is set to get $600m in city tax money, "at least $350m" and maybe more from the state, and between $428m and $873m in property tax breaks, for starters. Let's call it "at least $1.4 billion," though...
Bears' $2B PILOT Savings Undermine True Tax Relief
The Bears would still save ~$2B via discounted PILOT payments — and if even that money is diverted for "tax relief," then either schools will lose money or property taxes elsewhere will have to rise to compensate, kind of defeating the...
Jerry Jones Gets $18.2M Yearly Stadium Subsidy Bargain
Cowboys owner Jerry Jones' per-year lease subsidy falls well short of a record, but paying the owner of the NFL's most valuable team $18.2m/year to keep playing in what remains the gold standard for stadium design can't be seen as...
Sherman's Costs: One‑Third Public, $1‑1.5 B Estimated
More Sherman: 2/3 private cost, 1/3 public, so that would make the total public cost either $1B or $1.5B depending on whether $3B is the total cost or just the private cost. And, of course, this is before any land...
Royals' Stadium Site: Lease, Tax, or Purchase Debate
Would the Royals lease a Crown Center stadium site and it would pay property tax? Or would the Royals or a government body buy the land, and if so who pays for it? And what of John Sherman's desire for...
Stadium Bonds Cost Double the Tax Revenue Generated
At a 4% interest rate, Missouri's $900m in stadium bonds would cost ~$50m a year to pay off, while bringing in only whatever slice of $28m/year in state, county, and city taxes attributed to the Royals actually goes to the...
Property Tax Relief Would Deepen Illinois Budget Deficit
Adding property tax "relief" to a $2B Bears tax break would just blow an even bigger hole in the state budget, so Illinois would either have to raise other taxes to compensate or cut spending on other services. https://t.co/H7JB6qsTTZ
Rays CEO Urges Immediate $1B Stadium Funding or Exit
Rays CEO Ken Babby warned the Hillsborough County Commission that "time and action are of the essence" for a $1B stadium subsidy or else "we would have no choice but to evaluate alternatives," in a tour de force of don't-make-me-come-in-there-ism....
Rays Stadium Funding Eyed From Promised‑off Sales Tax, Disaster Funds
Sources of public money for a Rays stadium may include sales tax money that voters were told wouldn't be used for stadiums, catastrophic/disaster response funds, property taxes from the area around the proposed stadium, and reply hazy, ask again later....
Tax Dollars Funding Stadium Arms Race in Tampa
Spending tax money to upgrade Tampa's football stadium so it can compete with a new Tampa baseball stadium built with tax money may seem like an odd way to run a railroad, but this is where we are. https://t.co/GGqVpl2tCV
Mayor Proposes $600M TIF, Siphoning Local Tax Revenue
Mayor Quinton Lucas has floated a $600m TIF district for the entire Crown Center — which would siphon off not just taxes from spending on baseball, but on Kansas Citians going out to eat or even visiting the aquarium in...