World-classness roundup: Dynamo stadium deal moves forward
Yesterday's news regarding the Houston Dynamo stadium should warm the hearts of all those folks who think trinkets are the way for Houston to become world class(ier):
- Deal Reached For Dynamo Stadium (KPRC-2 News)
- Dynamo Stadium gets OK from Houston Sports Authority (AP)
- Downtown stadium OK'd for Dynamo (Chris Moran, Houston Chronicle)
- Dynamo Stadium Deal Approved on East Side (Ford Atkinson, KRIV-26 News)
- Downtown Dynamo stadium approved for building (KHOU-11 News)
Amidst the revelry over Houston's latest step toward world-classness, government watchdog Tom Bazan emailed the following, which we pass along for further consideration:
To amortize the $20,000,000 in infrastructure bonds over 50 years at 5% taxpayers would be required to pay annual payments of $1,095,534.71!!!
There is a decline in revenue for the Sports Authority, so how in the hell will the bonds be repaid? A mere $65,000.00 per year in rent is a bigger giveaway than when Lee Brown and Jordy gave away the Fire station #1 to Tillman for his Heliport and Aquarium.
When does this become a criminal giveaway of taxpayer resources?
Please discuss!
Posted by Kevin Whited @ 12/03/10 10:35 AM | Print |
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