Comment and analysis on all things Charlotte

On the latest baseball stadium proposal

So the latest version of the proposal to bring the Knight Uptown doesn’t include any property tax money but rather more hotel/motel tax money plus some bucks from the Center City Partners, providing a political fig leaf to those on city council that want to vote for it but are afraid to because of the property tax aspect.

Yawn. Money is a fungible asset — as this deal proves yet again. And increasingly people are catching on to that — it’s not as if we haven’t heard that line before. (See: arena bundle.)

And none of this gets around the fundamental problem — we’re giving public money to move within the Charlotte metro area something that competes with other unsubsidized business for scarce entertainment dollars and does nothing to help the local economy as a whole. And the hard questions still haven’t been asked — like what happens if the Knights don’t hit their attendance projections.

3 Responses to “On the latest baseball stadium proposal”

  • May
    29
    2012

    Three-fourths of Center City Partners’ funding comes from property taxes.

  • May
    29
    2012

    The other quarter probably ultimately derives from taxes, too, if you follow the money.

    To answer the question: If the Knights don’t hit their attendance projections, TPTB will just arrange for ticket prices to be reduced to the point where every game is sold out — even if it means to school groups and the local homeless population. (See also: NASCAR HoF.)

  • May
    30
    2012

    I can see the Knights increasing their attendance by perhaps 45% at the most. they will not double their Ft. mill attendance as most die hard baseball fans in the area already go. Guppies that the CCCP have been trying to attract with trinkets do not go to baseball games.

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