Regarding all the talk of new 'privately financed sports facilities':
The phrase 'Public contributions that won't raise your taxes' is an
oxymoron! Where do public funds come from? How are they raised? Public
funds are a result of taxation and payment of fees.
There is no such thing as a interest-free loan! Someone is either paying
the interest or foregoing the interest-- essentially the same thing! There
is no such thing as free money. If any public entity is providing a
interest-free loan, it is the public that is paying the cost of the forgiven
interest. The same funds could just as easily be earning interest and/or
paying down public debt and lessening the pressure for more income taxes or
property taxes or sales taxes or fees of all ilk at every level of
government!
Donated public land is not free either. As a real asset, it holds intrinsic
value for the owners- again the public. I haven't heard of any private
landowners offering to donate land or install the infrastructure needed
(sewer/water/roads/electricity/parking/access in general....). Publicly
owned real estate tends to appreciate in value just like private property,
and it has the capability to generate revenues for the public in lieu of new
income taxes, sales taxes and increased property taxes.
Shifting other public revenue funds (parking revenues, bond payment streams,
etc) from one destination to another is just a shell game; robbing Peter to
pay Paul. If the funds are being diverted from a public to a private
interest, it represents a direct public subsidy.
Even the use of gambling funds from a publicly owned casino represents a
public subsidy, albeit from a new source of significant public revenue.
Lets just recognize that all these non-private sources of funds do represent
public subsidies. Once that is clear to all voters, taxpayers and
lawmakers, let the negotiations begin!
Michael Hohmann
13th Ward
http://www2.visi.com/mahco
> -----Original Message-----
> From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf Of
> Dooley, Bill
> Sent: Monday, March 26, 2001 12:22 PM
> To: David Brauer; Mpls list
> Subject: Re: [Mpls] Vikings! Vikings! Vikings are coming!
>
>
> No. I have yet to receive any stadium polling calls, but the
> lateness of the
> legislative hour has stadium proponents moving into fifth gear.
> Here are my
> stadium comments:
>
> "Public contributions that will not raise your taxes," forgiven
> sales taxes,
> no-interest loans, and infrastructure improvements surrounding a stadium,
> while not raising taxes per se, all deplete the state's or a
> city's general
> fund. I am firmly convinced that the only way there will be a new stadium
> for the Twins or Vikings/Gophers is through some sort of casino revenue.
> Either a sharing arrangement with the tribes or I would not put
> it past the
> proponents to go for an outright placement of a privately-run casino (with
> the state taking a share of its revenue for sports projects) in downtown
> Minneapolis, downtown St. Paul or the Mall of America.
>
> Bill Dooley
> Ward 13
> Kenny
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