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Archive for December 10th, 2012

Big public money for new Falcons’ arena

How big? $300 million from Atlanta’s hotel-motel tax towards the $1 billion or so cost of a retractable roofed football palace.

H/t: JAT

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Foxx punishing streetcar foes?

Could never imagine that happening. Never, ever, ever. Nope. Well, OK, now that I think about it some, more, well, yes that does seem quite possible.

First-term at large council members Claire Fallon and Beth Pickering, both of whom are against funding the streetcar via property taxes, feel that they are being targeted by Foxx.

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Film studios: We want lots of money for Eastland

Government money that is. Which is unsurprising if you have even a passing familiarity of how the movie business works. But in case you need some convincing, here are some quotes via the Charlotte Observer:

• Christopher Cates of ReelWorks Studios: “There will have to be some participation from the city, county and state to make it work,” Cates said. “It’s just too risky otherwise.” But that only gets us to this:

ReelWorks Studios – which said it’s the city’s largest independent film studio – responded to the city’s Request for Information this fall. ReelWorks, located uptown near the N.C. Music Factory, estimated a studio would cost between $30 million and $50 million.

Cates, the ReelWorks executive, said the city’s plan to have studios be a hub for other development could be difficult. The studios would need security and could resemble a gated community, he said.

“It’s not going to be an intimate part of the rest of the development,” Cates said.

• And a different proposal:

In early November, The Film Studio Group told the city it is “extremely enthused” about building a “full-service studio complex” in Charlotte.

Its proposal envisions using about 20 acres of the site for the studios. The studio project would be a loss-leader, but it could help develop a campus that could attract industry-related businesses.

Loss leader?

But in any case, lots of money for a fickle industry whose presence in the city you are only renting and all for a questionable economic development impact.

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December 2012
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