I just read in the September 13, 2006 edition of the Star-Ledger about the new stadium.
Here are some excerpts:
"For Harrison, the stadium, scheduled to open in July 2008, will be the centerpiece of a $1 billion redevelopment plan that will convert Harrison's abandoned industrial waterfront into a modern, live-work-and-play transit village anchored by 800 apartments and dozens of stores and restaurants."
Now add the other 8,200 apartments that the genius redevelopment agency approved and see how much the transit village residents like living there then.
"With a stage at one end of the stadium that will make the facility a top concert venue during the spring and summer, developers say they have a formula that has proven successful in Denver, San Diego and other cities, despite major traffic jams on game days."
Denver, Colorado has an area of 154.9 square miles.
San Diego, California has an area of 372.0 square miles.
Harrison, New Jersey has an area of 1.2 square miles.
IF DENVER AND SAN DIEGO ARE HAVING MAJOR TRAFFIC JAMS ON GAME DAYS AND THEY ARE SO LARGE, WHAT IS GOING TO HAPPEN TO HARRISON ON GAME DAYS!?
"None of this will come cheap - for the soccer team, AEG or taxpayers, who will spend $120 million on the project and hope the investment gets repaid in future taxes and parking fees."
We already spent $40,000,000.00 on this stadium, and you're going to tell me we might pay more?
"The town of Harrison has issued $40 million in bonds, guaranteed by Hudson County, that will help cover the costs of acquiring and cleaning up land near the site of the former Guyon Pipe company for future development and for constructing new roads and utilities."
As far as I know, that $40,000,000.00 was just for the remediation and the purchase of the land, not the construction of new roads and utilities. As far as I know, they don't know how they're paying for new roads.
"Harrison also plans to pay back the bonds with real estate tax payments from the future construction, which is expected to include additional housing and retail space."
There's that word again, TAX PAYMENTS!
"We're helping the Red Bulls build their own stadium," Hudson County Executive Tom DeGise said. "Our calculations show the parking garage will be a moneymaker with just the commuters. The events at the stadium will be a bonus."
I'm glad the county is at least getting their money back they're spending on this debacle. They actually have smart politicians. Holy sh*t, what a concept, a smart politican.
"Attendance at Red Bulls and MetroStars games has lagged for years, and the team's owners are betting the lure of a new stadium can bring in thousands of new fans."
Right.
Here's the link in case you don't believe me, because these are all facts.
http://www.nj.com/news/ledger/jersey/index...4510.xml&coll=1