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I’m so glad that our esteemed legislature is giving more time for their buddy/donor to suck us dry with another money-sink stadium while at the same time trying to kneecap Indianapolis’ transit agency.
Behold the priorities of the Marion County GOP … little wonder they can’t win elections.
What exactly does ” The PSDA would capture taxes spent in a designated geographical area surrounding the stadium to help finance the project.” mean? We don’t know where the stadium will be yet, do we?
I imagine it means that once the stadium site is announced, they’ll just draw a circle around it of whatever size is necessary to siphon off the required tax revenue to pay for 80% of the stadium.
It means that local and state taxes, including income and sales taxes, generated by the entire development will be used to fund the stadium.
i understand the frustration of many who live in Indy over this bill but lets be honest,sports and conventions is what indy is built off of. Florida has Disney,Nashvile has country music,Louisville has Derby and Indy has its covention,sports and tendrlion. eveery city and state has a drawing appeal and this project lines up with the image Indy is trying to capitalize on nationally.Theres nothing odd about this at all when we look at the bigger picture of Indys driving economic machine.
Well, Disney specifically created its own government (Reedy Creek Improvement District) so its private money wouldn’t be siphoned off by other leeches, er governments, and country music and horse breeding naturally (i.e. that pesky free market) arose in Nashville and the Bluegrass, respectively. But Indy’s potholes are the only thing that naturally occur when taxpayers siphon money to the Irsays, Simons, and Ozdemirs.
And the best analogy to horse racing and country music for Indy is IndyCar, yet Penske, one of the biggest donors to High Tax Holcomb, moved his IndyCar operations to NASCAR Country, and now is at the teat with the absurd $100 million “loan” to IMS courtesy of the “conservatives” Pence and Bosma.
Penske’s IndyCar operations have never been in Indiana. They were in Pennsylvania before they were consolidated in Charlotte. And that loan was pushed for by the Hulman/George family before Penske bought the place… and it needs a half-billion to fully renovate it. But that’s another topic.
I understand the money spent on Colts/Pacers as these are multi-use facilities. The need for another soccer stadium – when we could renovate the stadium on the IUPUI campus – befuddles me.