OT Sacramento looking to finance new arena; UPD NBA rejects relocation to Seattle bid
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03-15-2013, 09:54 PM
Join Date: Jan 2012
Location: New York City
Originally Posted by
That only occurs if a private entity is getting something in way of a subsidy from the city. The city will build and own the building one way or the other unless someone steps up and privately funds it themselves.
The way I see it, it is probably not a good idea for government to be in the arena ownership business---you cannot derive property tax revenue from such an arena. If the city were to grant a master lease to a private operator, which would put the property on the tax rolls, that is something I could agree with (the Verizon Center is owned by the owner of the Caps and Wizards, but the land under the arena is municipally-owned). That will also be the case with the new Warriors arena.
My stance is primarily based on the stance that building sports venues is not the responsibility of the government.
BTW, Sleep Train Arena is 25 years old - Oracle Arena is 47 years old.
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