June 22, 2004
I don't know how many of you have already seen this, but it appears Virginia is primed to host the Expos. From a Twins fan point of view, this is a good thing. The D.C. area is really the only viable area left to host a team, and once it is gone we'll only have contraction to worry about. There were a couple of key lines in this article that I'd like to highlight:
"The only government action required for the Northern Virginia plan would be site plan approval from the Loudoun County Board of Supervisors. A majority of the board attended a rally Monday to express support."
Really? That is the only government action left? How did they manage that and what is their financing plan?
"The developer proposing the plan - a consortium of builders Beazer, Centex and Van Metre companies - is willing to contribute $82 million in infrastructure costs, reducing the ballpark cost from $442 million to $360 million."
So far so good. What else?
"Much of the financing for the stadium already is in place under a 1997 Virginia law that permits the state to pay two-thirds of the cost of a new stadium, using taxes generated by the ballpark to pay back the bonds."
I'm seriously about to explode. This is the exact same type of plan Pawlenty is proposing. Why is it so easy to pass in Virginia but not in Minnesota? Again, the new taxes generated by the proposed stadium do not exist right now and will not exist if not for the stadium. Virginia's government has decided that they will forgoe those new taxes for the greater good of having MLB as a part of their state and the D.C. area. Because right now they've got squat! Why is this so hard to understand for the Minnesota legislature? We could funnel the new taxes from a downtown St. Paul/Minneapolis stadium to help pay it off, or we could kiss the Twins goodbye and be left with nothing. No current taxes, no future taxes, no Twins, NOTHING. I need to calm down.
Posted by snackeru at June 22, 2004 11:21 AM | Stadiums