May 17, 2008

Poking holes in the Rays' fabric roof dreams

More reaction in today's St. Petersburg Times on the Tampa Bay Rays stadium plan:

• St. Petersburg city council member Herb Polson, who was a city official who worked on the financing of Tropicana Field two decades ago: "I think there is an awful lot to figure out in a very short time. ... The developers' proposals still have holes in them. Who is going to cover the demolition costs? Who is going to pay if there is environmental damage underneath the Tropicana?"
• Times columnist Howard Troxler: "If the developer is really going to build all this neat-o stuff on Tropicana Field, hundreds of millions of dollars worth added to the tax rolls, how come we can't get any guarantee at all? ... An ironclad guarantee that the property-tax revenue, or an equivalent required payment from somebody, always covers the public's share of the debt. If what the Rays and the developers claim is true, this shouldn't be a problem — heck, it shouldn't even be a close call. It should be like dickering over floor mats once we've agreed to buy the car."
• Finally, four stadium experts weigh in on the financial plan: me, and economists Mark Rosentraub, Victor Matheson, and He Who Shall Not Be Named. Guess which one of the four thinks it's a good idea?