A few odd parts of this deal he points out are that the city bears the cost to bring utilities and sewer into the stadium and also pay for costs of environmental remediation (normally covered by property owner). That's shown as a minimum of $18.5mm in costs according to the article. I believe those are the sticking points for the journalist (and would be for me too if I were on the city board). If OCSC paid those costs the city would only have paid the $10.6mm in land acquisition costs. That's $7.4mm profit for the city if they recieved the $18mm purchase price and OCSC paid for all utilities and remediation. Plus his estimated $67,000 pa in tax revenue that we're assuming the city would never have recoeved from another use of the land? That's a much more fair deal and looks like something that would be drawn up in a free market. I'm not going to get political, but these types of "deals" piss me off.
Stadium Discussion
- Thread starter Gene
- Start date
A few odd parts of this deal he points out are that the city bears the cost to bring utilities and sewer into the stadium and also pay for costs of environmental remediation (normally covered by property owner). That's shown as a minimum of $18.5mm in costs according to the article. I believe those are the sticking points for the journalist (and would be for me too if I were on the city board). If OCSC paid those costs the city would only have paid the $10.6mm in land acquisition costs. That's $7.4mm profit for the city if they recieved the $18mm purchase price and OCSC paid for all utilities and remediation. Plus his estimated $67,000 pa in tax revenue that we're assuming the city would never have recoeved from another use of the land? That's a much more fair deal and looks like something that would be drawn up in a free market. I'm not going to get political, but these types of "deals" piss me off.
I think the real takeaway from the Vice article is that the residents of Harrison NJ should be pissed they're getting bubkas in Realestate taxes on RB arena because of such a fraudulent appraisal.
Agreed. There seems to be enough real grievances that I would have been on the side of the writer if he didn't try to bamboozle me.
Yeah, what is that $30 million figure? Just some appraisal that's only used for tax purposes? The arena cost something like $200 million to build, so I'm assuming they could sell it for a lot more than $30 million if they wanted to.
Jacksonville is the largest (by area) city in the United States. Miami proper is much smaller 1/16th the size, but the Miami metro area has a much larger population than the Jacksonville metro area. JAX is about 1.4mm people and Miami is ~6mm.
Correct. Ranked by metropolitan area, it's Miami/Ft. Lauderdale way ahead. Tampa/St. Pete a solid 2nd. Orlando 3rd, and Jax just back in 4th. Not sure where West Palm is these days, but sometimes gets lumped in with Miami. Same with Sarasota/Bradenton and Tampa. It's a little hard to divide MSAs with these beach communities that run together.
So, I spoke to my buddy at Fresh Direct. He worked on the sale. He didn't know anything about whether the buyer might have been fronting for us. He thought they were just happy to wait until the zoning changed and build residential. He did say if the buyer were fronting for someone, he wouldn't necessarily know it. He also said the move up to the Bronx has been a real slog. Lots of local political opposition, which I had forgotten about. They've been working on it for years, which is really strange given all the jobs it would create.
For a borough that needs a bit of revitalizing the Bronx sure isn't very welcoming.
Their pols are like trolls hanging out under the throgs neck bridge. Can't cross unless they get theirs.
I've always felt that some of these local politicians are only 1-degree removed from the weekly shakedown.
Update: i just visited the sight. The buildings to the left of the Fresh Direct are also for sale.
Theres a cool bar/brewery called The Transmitter. Deff should be cool
Theres a cool bar/brewery called The Transmitter. Deff should be cool
Hmm. I'll look into that tomorrow. Find out the deets
Transmitter is a nanobrewery with limited hours, capacity, etc.
Saw my ticket rep at the game. Said I was excited about the new rumored stadium location. He made no denials.
Newtown Creek confirmed!!!
Newtown Creek confirmed!!!
Will be at least a microbrewery if/when we move there!!!!
Maybe they'll even install a public restroom!
went to pick my girlfriend up, down in LIC, so i made an impromptu stop at the site (needless to say she was not as excited to get out and look as I was). Made some quick walking videos:
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hmm not how i was hoping the clips would link, but at least it worked.
Anyhow, this was Saturday. the place was as empty as could be. Amazingly empty. So nice out too. I imagine with a stadium there it won't be as quiet.
Someone asked if you could overtake borden ave and move traffice to the next block. Unlikely. there is a bridge that goes over the creek. doubt moving that is in anyones budget. Driving to the spot was really easy. The whole area is so quiet. just blocks and blocks of factory/warehouse buildings but nothing going on people wise.
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