Quote:
Originally Posted by Loyal and True
You are exaggerating. It's not all exaggerated claims, there are some benefits. The investment should be smaller, something reasonable for the benefits received. $100M every 25 years seems more reasonable IMO.
If they want more....add in a ticket levy to be paid by ticketholders. The Present value of $14M per year (paid monthly) in levy revenue is $202M (using 5%). If this happens then a portion of every ticket goes to govt coffers. Gov't receives $350M over 25 years for its $202M
Then the owners come up with $100 to $150M on their own and the city is not responsible for cost overruns.
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There are definitely benefits, it's cool to have a new arena, there's just no proof of economic benefits. I don't know what the solution is, I'm just not interested in being extorted by billionaires, which is often how this plays out.