Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: Vision Thing
Taxes are fungible. If you see $750 million in increased hotel/tourist tax revenue as a result of the project then maybe, but usually when tax increments are talked about as justification for a project they actually fall short. And it is never acknowledged as such on paper but the slack must be taken up by other taxes.

And major sports stadiums often don't pay for themselves during their useful life. Case in point the Seattle Kingdome, which still had about 25% of its mortgage balance unpaid when it was razed.

Not saying there aren't economic benefits to civic projects like this that are hard to measure and hard to sell to a populace that probably won't think the whole thing through, but that doesn't relieve the government of the responsibility to honestly account for how they are being paid for, especially since the benefits will lag behind the costs several years.

32 posted on 01/14/2018 7:27:57 PM PST by Clinging Bitterly (I will not comply.)
[ Post Reply | Private Reply | To 12 | View Replies ]


To: Clinging Bitterly
One thing that brings liberals and conservatives together is that new stadiums paid for by taxpayers is repulsive.

I know that LV is a big city, but is it enough to support the Raiders?

They have no connection to the town, except for gamblers.

Can a team be supported fan-wise, with out of towners?

My guess is no.

They'd be fair weather fans at best.

And I'm seriously concerned about the Mob putting pressure on players, as they are in close proximity.

"Da Boss would likes it if you would drop dis pass right now. Or dere could be a problem for youse and your family."

35 posted on 01/14/2018 7:37:42 PM PST by boop ("So much wasted time"-David Cassidy)
[ Post Reply | Private Reply | To 32 | View Replies ]

To: Clinging Bitterly



The NV taxes raised from hotel visitors isn't going only to the new stadium. In addition to the $750 million for the raiders, additional funds are being raised to expand the vegas convention center.

Although the center's current square footage is massive, the Consumer Electronics Show convention outgrew it years ago, so the center needs expansion badly.

Vegas is in no danger of losing CES to any other city (no one can rival vegas for it), but the conventioneers have been grumbling that they need to transport themselves to other venues throughout the city, and given traffic during CES, it takes an hour to travel to the other venues, even if they are merely a mile away.

So the powers that be in Vegas aren't like their brethren in other cities, who raise taxes to fund social programs. Instead, these new (and temporary!) NV taxes go to economic development.



43 posted on 01/14/2018 10:59:06 PM PST by Vision Thing (You see the depths of our hearts, and You love us the same...)
[ Post Reply | Private Reply | To 32 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson