Llama19
Registered User
Scottsdale mayor to Coyotes owner on arena plan: “Not feasible, or welcome”...
To quote:
"For now, Meruelo needs to focus on winning a public auction for the land he wants — currently set for June 27 — and then getting both Phoenix and Maricopa County to sign off on the creation of what Arizona calls a “theme park district” within which a tax surcharge would be levied on sales or business income and then kicked back to pay off construction bonds. This isn’t a TIF, because it’d be a new tax on top of the development paying normal taxes to the city and county, but it’s also not quite like a tax just on tickets where the money mostly comes out of a team owner’s pockets because economics; I’m currently engaged in a lengthy email exchange with a couple of economists about how exactly to figure out what should count as the public cost, but since we don’t know the projected total amount of the tax surcharge it’s a bit premature anyway."
Source: www.fieldofschemes.com/2024/04/09/21272/scottsdale-mayor-to-coyotes-owner-on-arena-plan-not-feasible-or-welcome/
To quote:
"For now, Meruelo needs to focus on winning a public auction for the land he wants — currently set for June 27 — and then getting both Phoenix and Maricopa County to sign off on the creation of what Arizona calls a “theme park district” within which a tax surcharge would be levied on sales or business income and then kicked back to pay off construction bonds. This isn’t a TIF, because it’d be a new tax on top of the development paying normal taxes to the city and county, but it’s also not quite like a tax just on tickets where the money mostly comes out of a team owner’s pockets because economics; I’m currently engaged in a lengthy email exchange with a couple of economists about how exactly to figure out what should count as the public cost, but since we don’t know the projected total amount of the tax surcharge it’s a bit premature anyway."
Source: www.fieldofschemes.com/2024/04/09/21272/scottsdale-mayor-to-coyotes-owner-on-arena-plan-not-feasible-or-welcome/