WBJ Brad Kane In This Issue: Extra Scrutiny for Polar Park

Polar Park Early Years Looking Real Bad For Taxpayers: First 3 Years Cost Taxpayers $9,000,000

 


Take  a close look at this..   

Fiscal 2021 Polar Park cost the taxpayers $1,460,000 in capital interest(money we loaned to pay the bond) and $249,000 when the district only raised $391,000, versus $640,000.     In total Polar park cost the taxpayers  $1,709,000 in Fiscal 2021!!!

Fiscal 2021 Polar park will cost the taxpayers another $1,900,000 in capital interest and now the DIF has to generate $2,000,000 not $640,000 to make the bond payment.   Next year Polar Park will cost the taxpayers in excess of  $3,000,000.

Fiscal 2022 Polar park will cost the taxpayers another $1,900,000 in capital interest and now the DID has to generate $2,700,000 to make the bond payment.     We could pushing a cost of $4,000,000 to the taxpayers.

 The key here is "amount generated from ballpark taxing district".     Right now we are only at $391,000.      

 

 


    

Comments

Anonymous said…
The only thing I see being built when I drive thru Kelley Square is a new gas station. How much in taxes can it produce ? Not two million !
Gary Samela said…
I think the Yatim family owns that gas station (as well as several others). They live in a $2 million home in Shrewsbury. The also are the main financial backer for the Pirates football team. Seems like they should have been the ones negotiating the deal!
Anonymous said…
Not to be a Monday morning quarterback but the garage the City is building should have been built on the gas station property which would have been close enough to support the ball park AND the Canal District. A question, when will the garage be opened, it was reported it would be opened for the end of the baseball season, then it would be opened for the Holy Cross game. I drove by yesterday and it is still not opened. This is just another example of issues with this project.
Anonymous said…
That gas station in Kelly Sq isn’t even in the DIF district where the taxes go to pay the city’s ballpark debt

In fact, the city took part of that property from the owners a I’d the owners are the only ones whose project actually is underway, with ZERO tax relief.
Anonymous said…
A success, probably because of the lack of City involvement.