http://www.chron.com/disp/story.mpl/metropolitan/6687627.html Uh oh...what does this mean for the chances for our stadium???
All it means is there are going to be alot of confused people thinking the Sports Authority and the new stadium are linked. Most people either don't understand and don't wish to understand that the AEG is putting up most of the cost and are only asking for a relatively small amount.
It actually doesn't mean anything - the funding of the project is privately raised funding by the Dynamo and TIRZ funds. None of which require any approval by the sheep that vote. But as a practical matter, this kind of story doesn't do the project any favors.
It occurred to me that if they would just tear down the Astrodome, the County would save enough money on air conditioning the empty space and its upkeep that they could pay for a new Dynamo stadium easily. I always wanted them to keep it, but I was thinking, really, why? We've got our memories, and the pictures. If they kept it the same, it would be cool, but too expensive. If they sell it to somebody to make a hotel, casino, or film studio out of it, that would be good, but it wouldn't be like the old days. Just get rid of it, or get money for it. Now.
Word!! i know that AEG is fitting most of the bill.... just getting familiar with the politics of it all.
-------------------------------------------------- " Cidolfas wrote: Wow... two things: First off, the bond swaps they did were standard financial practice prior to the credit collapse. It's not like there's some kind of criminal misdirection here, it's that a funding authority is an organization designed to pool the risk of taking loans on the construction capital. When the financial market tanked and everybody's bonds got downgraded, it destroyed a lot of financial systems that made sense at the time. That's the problem that's showing up here, and it's more of a systematic issue with modern financial structures. Now what is a scam is that the system hedges it on taxpayer money should it go awry. The team owners could have shouldered the risk to build their stadiums themselves, but didn't because they could get the local government to shoulder the risk instead. The second point is about the soccer stadium. They don't want to use the Sports Authority at all. Instead, the owners want to bear the physical construction costs on their own - no taxpayer-backed bonds. What they do want from the city is a lease on the land (already secured) and permission to obtain loans on TRIZ funding on the city/county's behalf for utility work. The TRIZ mechanism is the key here, as it quite literally means that the city doesn't pay a cent of taxpayer money. The city takes in the exact amount of property tax it does for the underdeveloped land now and puts it into the city coffers. Any property tax dollars above the current level (i.e. property tax that wouldn't have existed without the stadium) go into the TRIZ, and in this case into the stadium. Basically, the city is offering the soccer team a tax break in the short term to provide a long-term developmental benefit knowing that the deal (and the development) doesn't happen without it. Is there risk to the taxpayer in the soccer stadium? Yes. But not much. Far less than any other loans I can think of. And it's certainly not the scam the Sports Authority got away with. 10/27/2009 1:13:17 AM Recommend: (15) (6) [Report abuse] " ----------------------------------------------------- Everybody. Find this comment (I found it in the fourth comment page) and give it a thumbs up. It is by far the most accurate comment I've read about the Dynamo stadium financing. Lets get this on the front comment page!!
I fear that the naysayers, xenophobes, haters, and trolls will have a field day over this. Never mind the fact that none of the current Dynamo Stadium project requires the use of taxpayer funding, bonds, or any guarantee by the City and County. These kind of stories just throw gasoline on the fire, and people are mostly blind to the truth. It's kinda like the current deal with the Dems casting the Medical Insurance Companies as reaping enormous profits when the latest study shows that they make about 2 percent or so. These kind of stories can't help.
I never stop being blown away that so many folks reading at Chron.com and then proceding to type out their thoughts have done little reading/research on the topics they desire to expand on. Readers are leaders....so said the fortune cookie. Go to Chron.com and witness the reverse where the haters come out cuz they couldn't be bothered to follow a story that is years in the making. ~ ~ ~ THIS IS WHAT I WROTE FOR THAT LINK: I've had to repeat this for going on 2 years now and I thought more Chron.com readers would, ya know, take the time TO READ and RESEARCH about the proposed new Houston Dynamo Stadium...but I will say it again...the Houston taxpayer will NOT have to see taxpayer money go to pay for the land or the building of the new Houston Stadium. Please do not listen to the ill informed out in cyberspace, however do trust folks like me and others that are concerned about where our tax dollars go but have followed up with the Dynamo owners, AEG and Oscar de la Hoya, that their project is a private deal and uses TIRZ return tax increases on the land as urban growth occurs in our now dour East End. Very easy sports fans! LET’S GO HOUSTON!
Which is exactly why it is a waste of finger power to type any responses to those clowns. Their minds are made up and no amount of logic or truth will convince them otherwise. What the Chronicle really needs is a BS moderator to moderate anything concerning soccer - that way we could red card about 3/4 of the posters.
I'm just in a bored mood, and lashing out at them on there But, my comment calling them all sheep who would rather mimic the fools above them than put any effort into learning even the tiniest bit of truth got deleted
Most (I'd say at least 90%) of the people you get responding to the articles like that are just miserable people who want to sound off without being informed of the facts. I just laughed and laughed at the responses. Made me think that there ought to be a law that says "just because you have a computer doesn't mean you are allowed to comment." Complete morons. Numptys the lot of them.