New Stadium for the Redskins being planned . . .

[SmootSmack]

Originally Posted by saden1

Cook paid 180 million and the tax payer paid 70 million. What infrastructure did tax payers pay for exactly? The road to enter and exit the stadium? Or perhaps I missed all the hip go-to spots near the stadium.

land, roads, power lines, sewer services. I don't think I ever said it was an equal amount of money paid by Cooke and his investors and the taxpayers

[saden1]

Originally Posted by SmootSmack

land, roads, power lines, sewer services. I don't think I ever said it was an equal amount of money paid by Cooke and his investors and the taxpayers

I sated the facts and inquired about what tax payers got for their money. From the looks of it, not much. I would think the billionaire building his dream stadium should be on the hook for buying the land, building roads around it to make sure it's not a traffic nightmare, works out a deal with the power and sewer company to bring power sewer service to a stadium in the middle of nowhere.

Then again, if Paul Allen can get tax payers to pay 200 of the 300 million it took to build CenturyLink field the problem isn't the billionaire, it's the people and the politicians they elect.

[irish]

Originally Posted by saden1

I sated the facts and inquired about what tax payers got for their money. From the looks of it, not much. I would think the billionaire building his dream stadium should be on the hook for buying the land, building roads around it to make sure it's not a traffic nightmare, works out a deal with the power and sewer company to bring power sewer service to a stadium in the middle of nowhere.

Then again, if Paul Allen can get tax payers to pay 200 of the 300 million it took to build CenturyLink field the problem isn't the billionaire, it's the people and the politicians they elect.

Its been shown over and over again by study after study that these stadiums dont provide the benefit they say they will for the locality where they are built.

When I lived in Pgh back in the 90s and they wanted to replace 3 Rivers with what is now PNC Park and Heinz Field they held a public referendum in the city and surrounding counties on whether to raise taxes to build these stadiums. The vote came in 2 to 1 to not raise taxes. The city and counties quickly went to what they called Plan B which was Plan A (raise taxes for the stadiums) without the referendum. These taxpayer funded stadiums are a joke and there's no way I'd ever vote to give any of these free-loaders any money for a stadium when there are so many other pressing problems. If they say they will leave then I'd thank them for their time in the city and wish them well.

[tshile]

PG County gets a 10% amusement tax on every ticket to every event in the stadium.

They get their own tax on sales of certain items too.

Have you done the math on that over 30 years? That's how long the lease is for, and you can bet any buyout of the contract is going to include covering that cost (regardless of who pays it.)

You guy sthink the money PG county put down for the stadium is a lot?

Run the numbers on the tax revenue they get just from football games. Then try to roughly guess how much they get from college games, concerts, and whatever else they host there ever year. Then multiply it by 30.

[NC_Skins]

Originally Posted by tshile

PG County gets a 10% amusement tax on every ticket to every event in the stadium.

They get their own tax on sales of certain items too.

Have you done the math on that over 30 years? That's how long the lease is for, and you can bet any buyout of the contract is going to include covering that cost (regardless of who pays it.)

You guy sthink the money PG county put down for the stadium is a lot?

Run the numbers on the tax revenue they get just from football games. Then try to roughly guess how much they get from college games, concerts, and whatever else they host there ever year. Then multiply it by 30.

You forgot the biggest detail of all. You forgot to subtract expenses (initial and reoccurring). Add up all the expenses on fire/rescue/police/road maintenance/ stadium maintenance/ etc... and subtract it from the revenue.

[tshile]

I believe Snyder pays for that.

At least he pays for police. I'm assuming he pays for the EMS/Fire fighters that are there too.

Snyder also pays for stadium maintenance.

I'm sure PG county pays for road maintenance, as they agreed to in the contract.

Did you do the math yet on the tax revenue?

[NC_Skins]

Originally Posted by tshile

I believe Snyder pays for that.

At least he pays for police. I'm assuming he pays for the EMS/Fire fighters that are there too.

Snyder also pays for stadium maintenance.

I'm sure PG county pays for road maintenance, as they agreed to in the contract.

Did you do the math yet on the tax revenue?

So for them to be profitable. They have to gain over the course of 30 years than what they've put in. Simple formula:

Revenue -[70mil + (annual expenses x 30)]= Profit/Loss

[Giantone]

Originally Posted by tshile

I believe Snyder pays for that.

At least he pays for police. I'm assuming he pays for the EMS/Fire fighters that are there too.

Snyder also pays for stadium maintenance.

I'm sure PG county pays for road maintenance, as they agreed to in the contract.

Did you do the math yet on the tax revenue?

Add in "inflation " what would it cost today to add the same roads ,sewers ,Metro,etc . Do you think in over the 30 years(lease) that people bought fuel , clothing , food, went to restaurants in PG county ,did they pay taxes ,did the retailers pay taxes ,did those retailers profit from the infrastructure around Fed Ex since it is used every day and just not on game day ?

[Giantone]

Originally Posted by Giantone

Add in "inflation " what would it cost today to add the same roads ,sewers ,Metro,etc . Do you think in over the 30 years(lease) that people bought fuel , clothing , food, went to restaurants in PG county ,did they pay taxes ,did the retailers pay taxes ,did those retailers profit from the infrastructure around Fed Ex since it is used every day and just not on game day ?

I bring this up because the FBI is looking at the old Landover Mall site as one of it's locations to move to ,if it is chosen the "infrastructure is already in place from the exits on the Beltway to the Metro stop are all in place ,what would have been the cost if they had waited to do it all now ,would the FBI even be looking at PG county if all that wasn't there , no .

[tshile]

Originally Posted by NC_Skins

So for them to be profitable. They have to gain over the course of 30 years than what they've put in. Simple formula:

Revenue x 30 -[70mil + (road maintenance x 30)]= Profit/Loss

Right.

Have you done the math on the revenue yet?

ps - fixed your formula

[Giantone]

Originally Posted by saden1

In our world when the billionaire baseball owner threatens to leave town unless the public finance his new stadium the billionaire football owner is likely to ask for the same deal. In Giantone's world baseball and football have nothing to do with each other.
.

In the two stadiums being discussed they don't ,Fed Ex and Met Life in NJ . Now prove me wrong .

[saden1]

Originally Posted by NC_Skins

You forgot the biggest detail of all. You forgot to subtract expenses (initial and reoccurring). Add up all the expenses on fire/rescue/police/road maintenance/ stadium maintenance/ etc... and subtract it from the revenue.

Don't forget to factor in opportunity cost!

If you spend $70,000,000.00 on an unnecessary product or service, and you could otherwise invest that money for 30 years at 4%, then spending the $70,000,000.00 could cost you $161,944,861.02 in forgone interest earnings. This would bring the real price-tag of what you are spending your money on to $231,944,861.02. So the question you should ask yourself is: Is what I am spending my money on worth $231,944,861.02?

[saden1]

Originally Posted by Giantone

In the two stadiums being discussed they don't ,Fed Ex and Met Life in NJ . Now prove me wrong .

Don't try that narrowing of the subject shit with me. We are talking about the precedence set when you pay for the football or baseball stadium. Also, you seem to not understand the fact that the Gaints and Jets tried to get the public to build them a stadium but failed. See West Side Stadium Story. Unlike most sports teams they, of course, can't threaten to leave the biggest market in the nation though the NFL did manage to slightly punish the good people of NY....

In reaction to the state representatives' decision to reject the stadium's funding, the NFL decided on August 11 to reopen the bidding for the game site of Super Bowl XLIV. The eventual winner was Sun Life Stadium.

[NC_Skins]

Originally Posted by tshile

Right.

Have you done the math on the revenue yet?

ps - fixed your formula

They pay more expenses than just road maintenance.

[CRedskinsRule]

I can't see it being a loss for the county, it may not be a huge gainer, but it probably is at least revenue neutral. No I haven't done any math, but if Stadiums were sinkholes, people wouldn't be clamoring to get them, as AT&T would say, it's not complicated.

I mean, I know the math can be complicated, and lots of variables come in to play, but really really bottom line, if PG County could point to FedEx and say that's where all the money is going, and try to get Dan Snyder to somehow pony up more money, there would be politicians out wazoo making that statement.