City has section on website all about Polar Park
Actually very good
The section for facts and figures should contain:
- amortization schedules on ALL the boards for this project
- updated pro forma based on current expenses and current revenues produced from the TIF
From the page titles "Fast Facts"
The project is premised on the concept that the development will be self-supporting. No existing city tax revenue will be used to fund the ballpark project.The City will create a District Improvement Financing (DIF) District that encompasses the ballpark parcel and surrounding redevelopment. New taxes and other revenues sources generated within the DIF District will be used to pay for the ballpark. The development costs and revenue streams identified are interconnected and codependent
Comments
Which of course means NEW TAXES can and will be used to pay for the ballpark and support the WooSox owners’ guaranteed profit margins.
They do get all concession revenues generated within the park, NOT the city so forget that being the “other revenue generated” by the park. Free proms generate revenue for WooSox owners when the kids buy food, drinks and souvenirs in the lark.
Yes,p it does say that the new DIF development is intended to be these new taxes, but the city has NOT
Revenged higher and new taxes on the rest of the city.
Just ask people running for council if they want uptou and me to pay higher taxes and new fees. “It’s for the children” and whatever other social program that requires hiring hindered of new hacks with city salaries, healthcare and pensions for life.
The DIF better deliver because the wistful. City council hopefulls will drive bog taxpayers to Shrewsbury and Auburn.