Whileee
Registered User
- May 29, 2010
- 46,075
- 33,132
... yes... yeah, but we do know (with a fair amount of certainty though could be wrong as we have yet to see anything in writing, detailed outline) that their approach seems to be that no, not looking for subsidies, looking to get a TIF, creation of new taxes where none previously existed ergo "self funding". Not looking for a handout, looking to capture & retain a portion of said newly created tax to pay for 50% of the new arena and one would assume ongoing management, maintenance & operational costs likely over a 25-30yr term. Thats the only way they can present it. We dont know if IA is asking the State for a $200M check in advance of this flow of newly created tax that they'd have to pull from General Revenues or if theyve secured a lender who will supply the balance of funds to build the arena based on projected TIF returns, and or if that lender requires that the State back those projections. That if IA projections are off, revenues falling shorty, the State will make up the difference. Theres just so many questions. No answers thus far. At least with the previous plays for the club, from Reinsdorf through Hulsizer & Renaissance/IA we knew the details. Here were really shooting in the dark however you & others who have followed this very closely over the past 7+ years can make educated & well informed guesses based on past performance, on what we do know about the groups shortcomings from a financial perspective, simply following the money.
...looks like a Coyote, walks like a Coyote, howls like a Coyote, etc.