That was no plan. It was a short sighted, ill conceived agreement that obviously didn't have the revenue sources to guarantee it would have the funds available to pay the debt obligation. Secondly it sounds like the ball has either been dropped by whoever was responsible for getting the projected number of machines in place or the demand for them is much lower than projected. IMHO before they signed the bill they should have had commitment for the number of machines needed and they should have had them ready to order and implement.Quote:
There was a financing plan in place, it just didn't work out as they were hoping.
It is playing out like I thought it would personally. I remember when MPLS hijacked it at the end and the Mayor said in a interview that they would be digging last year already that I knew he didn't have a clue and that they were lying to make the dome site look more appealing.Quote:
I hear what you are saying though. The plan wasn't a very good one from the beginning, and the stadium was pushed through regardless of the feasibility of the plan. I have a feeling that this wasn't entirely unexpected, and stadium backers who preferred other financing plans - for instance Racino - supported the bill with this in mind. Politics at its best/worst.
The process sucked from the beginning because the team spent all it's resources selling the shiny new stadium with rendering that will more than likely bear little resemblance to what we will actually get and nearly none on a structure to finance it. IMHO they should have first sat down with corporate leaders and got a commitment for how many of these luxury suites were guaranteed to sell and for what price, then do the PSL sale and know how many of those would sell and for what price, then go to the state for the balance and put together a realistic financing plan.
That was ridiculous to even have in there to begin with. If the state needed to replicate the dome they should have just let AH have the stadium and kept the dome for those things.Quote:
One thing should be clear - if the state is struggling to hold up its end of the agreement, then they can't be beating the drums for little things like an extra 20 feet for a college baseball field...