Stadium Sites Narrowed

[SoccerPrime]

Excellent. Any chance I can get a piece of that action?
I need a new car. 🙂

[edaw33]

Originally Posted by Scholesy

I suspect it will break soon enough in the press, someone on the city council I am sure will tell. It involves a very clever distribution of monies so no public monies per se would be raised or asked for.

come on baby! LET'S GET THIS THING DOWNTOWN!! I am pumped. Where is the prayer thread?? I need to go add one! 🙂

Maybe the RCB guy can do that as his prayer before the next game!!

[the cup]

I must admit, I am intrigued and somewhat giddy.

[oussan]

No doubt. I had all but given up on a downtown site. I remember, though, someone said on some other thread in some other forum that "what Checketts wants, Checketts gets." Works for me!

[Section 37]

Originally Posted by Scholesy

I suspect it will break soon enough in the press, someone on the city council I am sure will tell. It involves a very clever distribution of monies so no public monies per se would be raised or asked for.

Scholesy: Is this what you were talking about?

SLCSPIN: Funding for Stadium

[Scholesy]

Originally Posted by Section 37

Scholesy: Is this what you were talking about?

SLCSPIN: Funding for Stadium

Yep, that'd be it. Didn't think it would take long to hit the internet. Nice observation by the way.

[SoccerPrime]

So is that tax money they could use or are they talking about creating a new entertainment tax in SLC?

[Section 37]

Originally Posted by SoccerPrime

So is that tax money they could use or are they talking about creating a new entertainment tax in SLC?

After the stadium built, all tax revenue from the stadium goes to the company that invested in the stadium to repay part of the debt.

For example. Tax on your soda and nachos doesn't go to the city, it goes to Checketts for a while.

But that's only taxes charged at the stadium

At least that's how I understand it.

So basically the city contributes tax money on the back end instead of the front.

[SoccerPrime]

Interesting.
Here in central Florida, we have a Tourism Tax. Every Hotel room, rental car, park admission has a small 3 cent extra tax. That money gets dumped into a slush fund to be only used to promote tourism in the region. However there is current talk that the Orlando Magic maybe able to use that money to help them build a new NBA arena.

When I first read about RSL's potential new funding device, I thought it sounded similiar to Florida's system. Apparently it is not.

[oussan]

Just as the blog says, this option is open to Sandy as well (and then why not Murray, too?). Maybe more monies would be raised downtown by such a mechanism than would be in Sandy, but does this really offer SLC that great an advantage? :eyebrow: