Thursday, December 5, 2013

The Nashville Scene's Steve Cavendish Explains Why the New Ball Park is a Bad Deal

I am bullish on Nashville. I think Nashville has a bright future. I am not one to oppose everything. When I was in the Metro Council, I voted to support the building of the Nashville Convention Center and I think it was the right thing to do and has served the city well. If I would have been in the Council when the decision was made to build the new Music City Center, I would have supported it. I would like to support the new Sounds Sulfur Dell Ball Park, but I just can't. If the Tygard amendment would have passed, I would be for it. As it is, I think this development is too risky for the tax payers.

Steve Cavendish of the Nashville Scene explains why the Sounds deal is a bad deal for the city. See the link below:

On The Sounds Deal, The Council Will Swing At Anything  

And let's be clear about another thing — it's not a very good deal. In the absolute best case scenario, the city is spending at least three times the total value of the baseball club on a new park and banking on tax money from adjacent developments to limit the city's losses to just a few hundred thousand dollars per year. Would we spend $3 billion on a Titans stadium with the franchise only worth $1B?

...... But if the Mayor can't make it revenue neutral, then the least the council can do is insure that our losses are limited to only the $345,000 annual defect on the deal for the next 30 years.

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