Now THIS is a reasonable agreement!
- SEG gets $900,000,000
- BUT... it's paid out in installments
Yes. Yes. Go on...
- The team is required to play ALL HOME GAMES at the Delta Center
- The team must stay in Salt Lake City for 30 YEARS
- If not... they REPAY all the public assistance they've recieved up to this point
YES YES YES!
- A fee on ticket sales (based on ticket price) helps finance public goods beyond the project.
It would be great if fees and a special tax district adjacent to the Delta Center could foot the entire cost of the $900M. I doubt it can. But this is a step in the right direction, and makes the tax a bit less regressive (e.g., a poor family on 900 W paying sales taxes on basic household goods to finance a billionaire).
But if the attendees can "give back" to the community, I feel a bit better. Sure the +$100M is upside down to the -$900M from the sales tax, but it's a step in the right direction.
- "The proposed agreement calls for pedestrian plazas that can be used for festivals, free of charge, for six days a year."
I mean, good. But what about easement? I don't like ceding public ownership of 300 West.
- "must be completed within 10 years of the date of the finalization of the agreement"
That sounds achievable and reasonable.
- "an estimated $525 million would help pay for renovations to the arena, while the remaining $375 million would go toward developing the rest of the district"
I sure hope Ryan is planning to kick in the $3B he said he was. Because $375M won't even pay for the proposed tunnel he wants to build.
- "The average household in Utah’s capital would end up paying about about $150 more in sales tax annually."
Propose something like this for UTA and everybody loses their minds. But for a billionaire Jazz owner? "Sure!"
Not happy about this regressive tax. But may have to shrug and just say that's the racket that comes with hosting a major-league sports team, I guess.
Quote:
“The truth of the matter is we’re just like Manhattan, except instead of rivers boxing us in, it’s mountains,” council Chair Victoria Petro said.
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Well, no. But... lol
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THIS is the accountability that I have been craving to see all last month when I was obnoxiously complaining about this project. It removes the "blank check" aspect from the deal and makes SEG accountable. No free lunch.
This is a huge step in the right direction, guys!
(Now we just need to kill off the 300 West tunnel...)