deerayfan072 wrote: Matthias wrote:
deerayfan072 wrote:Correct the City owns it. The Rays are going to find the buyer and developer for the City and the excess profit will be used for the stadium, is how I understand it
So the city is going to sell off a valuable asset, use that money for a new stadium for an MLB team, but the new stadium isn't costing the residents of Tampa anything? How does that balance sheet abacus work?
Because it was not giving them any money in the first place. They are going to replace the money they would have been getting had the Rays stayed in there lease for the next 22 years and using the leftover money to build the new stadium. So really the excess is money the city would not have unless the Rays were to move and they would only move if they had a new stadium.
I see. But still, previously, they still held the remainder at the end of the lease, even if the property was going to be tied up for the next 22 years. Now they're selling that off. So it's not costless.
And I dislike the idea that simply improving property values is good for the city. Sure, there's a higher tax base to collect on, but the overall effect is fairly negative, simply a wealth transfer from everyone in the city to the individuals who own property nearby. Now, if the city held a mass of land and let a major league team use part of it for their stadium and then recoup'ed their investment by the appreciated value on the city's own land, that would be a different story. But of course, that never happens.
0-3 to 4-3. Worst choke in the history of baseball. Enough said.