Posted on 02/25/2015 12:59:22 PM PST by C19fan
Start checking the bank accounts of the Inglewood city council. Let’s just say it is a very diverse group of folks who aspire to be the next Coleman young.
No big deal; he's got lots.
And some of them were stolen, too. But letting Vladimir Putin have it is not forgivable. He should be waterboarded and tossed in the Bay with his property, Roger Goodell.
There is not much diversity in Inglewood. It is all one color there. I have a friend who is a white guy living in West LA. Whenever he gets called for jury duty he requests that he serve his jury duty in Inglewood. When he goes into the courthouse he is the only white person there. He never gets put on a jury.
We called it Inglewatts.
Put the Rams back in Cleveland.
You talking ‘bout me?
Yeah I am...LOL
Least I didn’t say anything about it being null and void...
So you are saying no tax dollars on this? I doubt it
The article is a bit weak on information, but this paragragh implies that the developer is not looking for much from the city.
“The proposed stadium’s owners could get a tax break; the city intends to put a glass ceiling on the existing ticket tax at $15 million per year if a stadium has over 22,000 seats. The building of the stadium has been estimated as capable of creating 23,522 construction jobs. Real estate firm Keyser Martson Associates believes the stadium could reap $325 million in annual revenue.”
But 23,522 construction jobs claim is aboslutely bogus. That would include the ladies who work at the lunch counter down the street plus some.
On the other hand, the St. Louis deal stinks for the taxpayer.
“Meanwhile, back in Missouri, Governor Jay Nixon tries to induce the Rams to stay. His stadium task force has plans for a roughly $1 billion, 64,000-seat downtown St. Louis stadium. The $1 billion cost would be funded from $460 million-$535 million derived from extending current bonds on the Edward Jones Dome plus tax credits. The NFL and the Rams would ante up the rest of the $400 million-$450 million funds needed.”
LA Times article reports “A Feb. 20 consultants’ report to the city manager backing the stadium notes that the developer, not the public, would pay the cost of building the stadium . . .”
I follow development projects in the little city I live in and project that are 1% the size of this take years to go through the development process and face NIMBYs who force changes to suit their wishes.
We could use a little fast tracking of some of our bigger projects.
“So you are saying no tax dollars on this? I doubt it”
There appears to be some Tax Increment Financing* to cover outside the stadium infrastructure costs. See this excerpt for the LA Times article.
“But while the deal does not include upfront tax money, the development group expects to recoup up to $100 million in local tax dollars in the first five years of operation, which would cover costs ranging from installing streetlights and fire hydrants to running shuttle buses and providing police security on game days.”
* It may not be called tax increment financing everywhere, but it is a mechanism where a municipality rebates a portion of the INCREASE in taxes back to a developer who fronted the cost of the work.
Silly sportsfan. Brats and beer are not haraam.
Ahhhh but, so goood!!!!
TIF is something that is heavily, heavily abused here in Texas
I have a representative here in Maine that has submitted a bill to the legislature on my behalf to define two terms in our state TIF law. The terms are “blight” and “credit enhancment agreement”. My city likes to call waterfront property that is next to other high end property, blighted.* My defintion would kill that. The definintion of CEA is being added to require requiring actually adding jobs (and not just taking jobs from another nearby town) to the location to get money back.
This was introduced and killed in a repblican led legislature 4 years ago that I worked to elect. So much for your friends helping you after you help them.
* the only blight on our waterfront in Porltand Maine are the empty parking lots that the city has built right on the water after community forums siad don’t do it.
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