Posted on 05/07/2012 4:51:40 AM PDT by TurboZamboni
WHAT'S AT STAKE?
Minnesota Vikings' lease at the Metrodome is up. Team says it won't sign a new one without a deal for a new stadium. Los Angeles waits in the wings. Team has been here more than 50 years.
WHAT'S IN THE BILL?
Public funding for $975 million stadium: $150 million from Minneapolis taxes and $398 million from taxes on revenues of new electronic charitable gambling. Read bill at http://bit.ly/Vikingsbill.
WHAT'S THE PROCESS?
Minnesota House will take up the bill Monday, May 7. If it passes, it will go to the Senate. Numerous amendments are expected to be offered, and a long debate is likely.
WHAT ARE ITS CHANCES?
The 134-seat House has 72 Republicans, 61 Democrats and a vacancy. It takes 68 votes to pass a bill. Democrats have pledged half, but Republicans say they are not certain they have 34 votes.
HOW TO FOLLOW
(Excerpt) Read more at twincities.com ...
Talking about the football stadium. The Braves stadium is very nice. It does get hot and humid here in the summer.
“Funding: $1 billion investment for the development of Farmers Field, all privately funded (this means no debt for the City of Los Angeles).”
http://www.farmersfield.com/pages/our-plan/
What in the Sam Hill is “electronic charitable gambling”?
“Sounds like MN had better build a new stadium.How long has LA gone without an NFL team?”
Here we are, broke in just about every place anybody calls home and the NFL thinks that those same broke governments should build them a new place to play or they will take their marbles and go home! Just incredible. Frankly, if this is how the NFL thinks it can operate, I hope voters everywhere who are treated to these “threats to leave town,” tell them, “there’s the door!” We are faced with real problems so if a bunch of millionaire owners and a bunch of overpaid minorities have to find another line of work, I am all for it!
Screw the NFL!
Coming on the horizon with a vengeance is the demonization of football as a “killer” sport. The myth being constructed is football's the equivalent to the gladiators fighting to the death for the amusement of the crowds in the coliseum.
If the do-gooders and wussies and libs get their way, the game of football as we know it is doomed. Football maybe banned outright or so emasculated as to be unwatchable (sort of like cricket — not the insect — the game of cricket).
In that case, all this house of pro football cards is going to come crashing down and the owners, fans, players, supporting staff are going to be broke. The money will go away. These football stadiums will be decaying monuments to the willful and assisted suicide of football.
At least that’s Rush’s opinion.
I would not be surprised if taxpayers get screwed twice, doublegood. Once to build this, again when trial lawyers get football rules changed making the game boring and unwatchable.(that $ will go to re-elect Dems) Teams will fold one by one, but the taxpayer will pay and pay.
video poker, slots, etc.
The charitable gambling financial assumptions are bogus.
Several State Sens and Reps have questioned them, and Goldman Sachs and other banks have refused to underwrite the bonds unless they are appropriations bonds not directly tied to the charitable gambling revenue.
In 2005, charitable gambling gross proceeds topped out at $1.5 billion. They have been on the decline ever since, and were actually sub $1 billion last year.
The new assumptions in the stadium bill call for them to increase immediately to $2.7 billion and grow from there over the next 30 years.
???
The only state that has tried these in the past (IA) saw them fail to increase charitable gambling in any significant way.
Updated: May 7th, 2012 10:34pm
Vikings stadium bill passes House vote, with increase to team share
The Minnesota Vikings took a giant step Monday night toward a new taxpayer-subsidized football stadium when the state House approved legislation, but lawmakers upped the share the team would have to pay.
On a 73-58 vote, the $975 million stadium plan remained alive. The state Senate was to vote Tuesday on a competing plan, moving the Vikings closer than ever to a replacement for the aging Metrodome.
...franchise owners will find it tough to stomach an amendment that would put the team on the hook for $105 million more.
“It might not make sense in dollars and cents,” Hosch [Rep. Larry Hosch, DFL-St. Joseph] said, adding, “I can’t imagine a state without the Vikings.” (http://www.cbsnews.com/8301-500290_162-57429826/vikings-stadium-plan-finally-scores-victory/)
A billion dollars, for what will amount to 250 games over the life of the stadium. $4 million/game. Or about $100/seat/game.
No Larry, it doesn’t make sense. I hope you can imagine a state without infrastructure, because that money is going to be used to subsidize a failing business.
My same coworkers who whine about evil rich and corporations “ not paying their fair share” are all for the taxpayer paying most of it.
Another example that people can rationalize anything if it’s something they like.
Gotta love the fat 40 something guys all over TV new last night with their faces painted purple down at the capitol .
I don’t think they understand how idiotic they look.
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