Quote:
Originally Posted by fbirks
I couldnt post a link but
San Diego team owner is trying to build a new stadium at no cost to the city. But opinions differ as to city benefits. A U of MD economics professor Dennis Coates studies this subject. Lets get him to join the Warpath and enlighten us. A new stadium in DC would be great for the city if nightlife develops around it ala the Phone Booth.
PG county gets 10% of ticket prices - $ 200 times 92,000 times 10 times 10% equals 18 million plus. DC could use this.
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$18 million a year sounds really nice until you look at the bond financing necessary to pay for a $750 mill to $1 billion stadium. I don't even want to get into the difficulties in municipal bond financing these days. The only way this would work is with private financing or the city starts taxing out of state residents working in the city and that is not gonna happen. At this point $18 million wouldn't cover what was pilfered from the DC tax office.