Comments
Please wait...
Comments are closed.
Commenting on this item is available only to members of the site. You can sign in here or create an account here.
More In Sports
Editors' Picks
Popular Articles
is a proud member of the
media network
media network
All contents © Index Newspapers LLC
PO Box 86208, Portland, OR 97286
PO Box 86208, Portland, OR 97286
from Paulson proposal:
"Public Investment: The total public investment necessary to accomplish the improvements described here are $80 - 85 million: $40 million for modernization of PGE Park and $40 - 45 million for the development of a new stadium at Lents Park. including collateral development."
Can someone name me another industry other than professional sports that has the balls to ask for so much of our tax dollars and gives so little back to the community?
And before someone argues that "People travel from out of town to see major league sports team. So it's good for hotels and restaurants", I'll remind them that people also travel from out of town to go shop at Powell's and other businesses in PDX. I don't see any of them asking for $40 million when they want to expand their business.
With that said, however, this would be great for the city, I support Merritt's plan, and I hope the local politicos have the vision and balls to approve it.
If you had read the PDF documents and checked on the small hints as to where his income is coming from to pay his bills, you'd find that of the $3 million a year Paulsen is "paying" for the stadium now $2 million dollars per year of his income is in the form of subsidies by Portland taxpayers.
His projected income figures are rosy best outcome scenario estimates.
If he's saying it will cost $75 million, sorry, last month's figure, he says it will cost $85 million to Portland, then the final cost will be at least twice that when you add in the additional costs for roads, replacing the park in Lents that is given up for this, and very poor planning which is always present in Portland projects.
That is just scratching the surface. The more you look at the numbers the worse it looks. Economically this is not viable at all. All Paulsen and his fans ask is that Portland accept the risk of paying for it if it doesn't work out - and continue to pay for it through tax subsidies if it does.