Saturday, October 6, 2007

Predators - Still no deal

We are still waiting for results of negotiations between the Mayor and the Predator's. To clarify for Mike Jameson's constituent, I DO NOT support government subsidies for sports franchises. I never got to vote one way or another on the Sounds but there were many things about that deal I truly hated. Lessons learned from the Predators and the Titans, if you will. I voted against the Titans when the referendum was held in the late 90's. I found it hard to swallow then and I hate it even more today that $4MM of Payment in Lieu of Taxes money goes from Metro Water to pay debt service on LP Field. I voted against it, I lost and now I live with the will of the majority until 2026. Same deal with the Arena.

By the way, From a budget perspective, I really could care less if our anchor tenant was a sports team, a movie studio or yes, even the Highland Games. But we decided to build this $150MM building in 1996. That is infrastructure we own. The cost of owning and operating it does not go away if the Predators leave. Yes, that will take money away from programs for the Homeless, Libraries, Police, Fire and Public Infrastructure excluding water and sewer. (For the record, we do not co-mingle our general fund money from sales and property taxes with water and sewer ratepayer money. State law requires us to keep those things separate. Nice rhetoric but wholly misleading. Sorry.)

But it appears that money is gone whether the team (or some other tenant) stays or goes. We gambled, we lost, we learned. However, if someone has another idea for a tenant who will actually generate positive cash flow for the taxpayers I'll be all over it. I just need to know what it is. Anyone?