Sports arena: Common councilors say Syracuse 'must seize this opportunity now

[sufandu]

Here is an interesting article that was linked with one of the articles OE posted that talks about the economic impact, or lack thereof, of publicly funded sports stadiums.

http://sportslawinsider.com/the-ugly-truth-of-public-financing/

The summary paragraph:

"The only way for governments to get away from these deals is too look solely at the economics. Publically funded stadiums are not a good investment and end up costing taxpayers hundreds of millions of dollars that could be spent otherwise. With almost no return on investment, stadium funding should be put to better use."

 

[Orangeyes]

Here is an interesting article that was linked with one of the articles OE posted that talks about the economic impact, or lack thereof, of publicly funded sports stadiums.

http://sportslawinsider.com/the-ugly-truth-of-public-financing/

The summary paragraph:

"The only way for governments to get away from these deals is too look solely at the economics. Publically funded stadiums are not a good investment and end up costing taxpayers hundreds of millions of dollars that could be spent otherwise. With almost no return on investment, stadium funding should be put to better use."

This whole thing could have been done years ago. SU had the opportunity w/o public funds.

 

[TexanMark]

Here is an interesting article that was linked with one of the articles OE posted that talks about the economic impact, or lack thereof, of publicly funded sports stadiums.

http://sportslawinsider.com/the-ugly-truth-of-public-financing/

The summary paragraph:

"The only way for governments to get away from these deals is too look solely at the economics. Publically funded stadiums are not a good investment and end up costing taxpayers hundreds of millions of dollars that could be spent otherwise. With almost no return on investment, stadium funding should be put to better use."

That is a typical stadium...the one in Syracuse will be used more than the typical stadium.

 

[GoSU96]

That is a typical stadium...the one in Syracuse will be used more than the typical stadium.

That analysis is more applicable to pro stadiums where the team has leverage to obtain very favorable terms.

The deal being talked about here only works if it's a win win for everybody, because there is no immediate need or urgency regarding the facility itself.

In any analysis what has to be taken into account the value that the city and county get from adding a privately owned facility of this nature to the tax rolls and getting out from under the War Memorial.

 

[sufandu]

That is a typical stadium...the one in Syracuse will be used more than the typical stadium.

How do you know that? And if it is used more, does the money made go back to the taxpayers? And, as the article pointed out, most money spent in sports stadiums is money that is already in the community, not money coming in from outside of it, so it doesn't have a positive economic impact. If SU can get someone to foot the bill an a spectacular new facility that they want built it's definitely a win for them. That article points out that it probably isn't a financial win for the taxpayers.

 

[KellySyracuse]

That analysis is more applicable to pro stadiums where the team has leverage to obtain very favorable terms.

The deal being talked about here only works if it's a win win for everybody, because there is no immediate need or urgency regarding the facility itself.

In any analysis what has to be taken into account the value that the city and county get from adding a privately owned facility of this nature to the tax rolls and getting out from under the War Memorial.

agreed, the War Memorial is like an anvil tied at the ankle as the city falls into the abyss.