Guest Town Watchdog Posted January 7, 2006 Report Share Posted January 7, 2006 I'm not getting this. The town is putting up $40,000,000 to help finance this soccer stadium. The Metrostars will take all the profits from the stadium. A parking deck is going up and my understanding is the county will take the profits from the parking deck. WHAT is the town (taxpayers) getting out of this ?? The interest alone on forty million dollars will be in the millions annually. I think the town is going way out on a limb putting up all this money when there is no guarantee of any return. Link to comment Share on other sites More sharing options...
MrHarrison Posted January 7, 2006 Report Share Posted January 7, 2006 I'm not getting this. The town is putting up $40,000,000 to help finance this soccer stadium. The Metrostars will take all the profits from the stadium. A parking deck is going up and my understanding is the county will take the profits from the parking deck. WHAT is the town (taxpayers) getting out of this ?? The interest alone on forty million dollars will be in the millions annually. I think the town is going way out on a limb putting up all this money when there is no guarantee of any return. <{POST_SNAPBACK}> I know what we're getting out of the deal - SCREWED. Link to comment Share on other sites More sharing options...
Guest 2smart4u Posted January 8, 2006 Report Share Posted January 8, 2006 I'm not getting this. The town is putting up $40,000,000 to help finance this soccer stadium. The Metrostars will take all the profits from the stadium. A parking deck is going up and my understanding is the county will take the profits from the parking deck. WHAT is the town (taxpayers) getting out of this ?? The interest alone on forty million dollars will be in the millions annually. I think the town is going way out on a limb putting up all this money when there is no guarantee of any return. <{POST_SNAPBACK}> I would have liked to hear the mayor explain to the taxpayers the logic ?? or reasoning behind the decision to borrow $40,000,000 to finance this stadium. I (like you) don't see how the town can repay this huge loan from the stadium project when the Metrostars and the county are taking the profits. It seems more and more to me that the decision to borrow all this money was based more upon emotion and status than on a sound financial basis. I think if this 40,000,000 bonding plan was reviewed by financial experts for it's soundness, I don't think it would have been approved. But of course, who needs financial experts when we have the mayor and council, with all their extensive backgrounds in financial matters. I believe they're all graduates of prestigeous universities with majors in finance. Link to comment Share on other sites More sharing options...
Guest Guest Posted January 9, 2006 Report Share Posted January 9, 2006 I would have liked to hear the mayor explain to the taxpayers the logic ?? or reasoning behind the decision to borrow $40,000,000 to finance this stadium. I (like you) don't see how the town can repay this huge loan from the stadium project when the Metrostars and the county are taking the profits. It seems more and more to me that the decision to borrow all this money was based more upon emotion and status than on a sound financial basis. I think if this 40,000,000 bonding plan was reviewed by financial experts for it's soundness, I don't think it would have been approved. But of course, who needs financial experts when we have the mayor and council, with all their extensive backgrounds in financial matters. I believe they're all graduates of prestigeous universities with majors in finance. <{POST_SNAPBACK}> yeah right........anyone can purchase one online, just ask the hpd officials who have and do. they major in online bullsh*t too. Link to comment Share on other sites More sharing options...
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