New stadium in LA

[KNSD]

Funny how many so-called capitalists are the ones gorging at the public teet.

Goldman Sachs business model. I met one of their guys at a Wind Power conference a few years ago when that energy source was being subsidized.

[sandiego17]

Funny how many so-called capitalists are the ones gorging at the public teet.

So when do you think Tim Cook pulls Apple from Saudi Arabia or Hollywood voluntarily repeals the movie-tv tax credit or Amazon refuses its multiple tax credits in multiple states? Hypocrisy knows no bounds, its not simply the domain of 'so-called capitalist'.

[Den60]

you mis-read my words. I said not relevant to getting a new stadium in San Diego. Yes, the team value will probably rise with a new venue that helps bring in more income. My point is whether the team is worth $1 or $2Billion- it has to be SOLD to realize any gain or the higher value. That's the big fail of using that point in these discussions. And Dallas is not a good analogy either. That team and owner have a far more successful and storied history than our Chargers. They also have far more wealthy corporations to buy luxury suites and/or get into Jerry Jones good graces. Texas is a completely different economic environment than California. The reason he wanted it is because... he wanted it- and so did enough other people to make it an easy process to upgrade to state of the art. Besides, they do everything bigger in Texas!

Just for the sake of argument you can borrow money against the value of the club and given that paying inheritance taxes is in the very near future that could be a consideration.

[Faded blues]

Den

The only way the 2/3 vote is triggered if any taxes are created to subsidize the stadium. The money that is set aside is not earmarked for any specific project and this legally can be used for this purpose.

I consider it a solid investment as opposed to sitting in a market that is going to become vatile very soon.

[Den60]

it will Advisory only- and non-binding. Basically Faulkner keeping a promise and letting the haters vent, but still accomplishing the goal.

You're not reading what I've posted. I have said that I figure that the Chargers would likely demand that the percentage of funding the stadium be flipped, with them paying 40% and the city 60% instead of vice versa. In that case the public has to come up with $280M additional funds that it would take to see CSAG's proposal come to fruition. Where do they get that without raising taxes? And please don't say that the county is just going to fork out the money with no chance of recapture.

Personally, I wish they could increase TOT taxes to help fund a new stadium since those industries do reap a reward for having a football team, bowl games, Super Bowls and the like and the people of San Diego would not be on the hook for additional taxes (unless they rent a local hotel room or car). I wish we could put a roof on the sonofabitch as well because March in San Diego is a very nice time to host some basketball games.

[Den60]

Den

The only way the 2/3 vote is triggered if any taxes are created to subsidize the stadium. The money that is set aside is not earmarked for any specific project and this legally can be used for this purpose.

I consider it a solid investment as opposed to sitting in a market that is going to become vatile very soon.

[Faded blues]

My reading comprehension sucks den

I do not know the amount of reserves the county has set aside

They stated a billion

[Panamamike]

You're not reading what I've posted. I have said that I figure that the Chargers would likely demand that the percentage of funding the stadium be flipped, with them paying 40% and the city 60% instead of vice versa. In that case the public has to come up with $280M additional funds that it would take to see CSAG's proposal come to fruition. Where do they get that without raising taxes? And please don't say that the county is just going to fork out the money with no chance of recapture.

Personally, I wish they could increase TOT taxes to help fund a new stadium since those industries do reap a reward for having a football team, bowl games, Super Bowls and the like and the people of San Diego would not be on the hook for additional taxes (unless they rent a local hotel room or car). I wish we could put a roof on the sonofabitch as well because March in San Diego is a very nice time to host some basketball games.

Much in the same way that PHX built their stadium.....hotel and rental car taxes. For the life of me I can't figure out why this can not be done, even if it needed to pass a vote. Locals, for the most part aren't paying it. It has proven not to be a detriment to those planning to travel. I mean, NOBODY even looks at the added taxes to their hotel or rental car charge, and it is such a small amount per individual (but adds up quickly in the aggregate). The hoteliers said no....so what???? grab a set and make it happen. it will be a shame if a small cartel of hoteliers ends up displaying enough clout to where they have a big part in forcing the team to move. IF SD ever got to vote on this type of tax, and it didn't pass the city deserves to lose the team IMO.

[Boltaction]

The Chargers don't know and won't know if they can move to Carson until after the December vote by the NFL owners if they can move. So be patient the Chargers won't say anything until January about if leaving or staying.

[Faded blues]

Boltaction

Carson is dead.

Between it being contaminated without an eir, misappropriations of funds and the sexual harassment suit, it's doa.

Within a month I suspect Carson to fall like a house of cards

[Boltaction]

I will follow the actions of the Chargers as to what they intend to do. So far Twenty million dollars on just the land over half million spent on Architects and hiring Carmen Policy for probably several million dollars to help with moving the team to Carson, I believe they are moving if they get the vote from the league and all their actions say so. It's not a bluff guys it's a fact of life.

carson-staium-640x360.jpg

http://timesofsandiego.com/sports/2015/05/22/how-much-did-chargers-and-raiders-pay-for-carson-land/

How Much Did Chargers and Raiders Pay for Carson Land?

NBC 4 L.A. reporter Fred Roggin reported Thursday during an interview with The Mighty 1090 that the Carson land which the Chargers and Raiders purchased on Tuesday cost them $20 million.

Chargers special counsel Mark Fabiani had been trying to keep the figure a secret, as he believed the number impacted the competition between rival L.A. stadium ventures.

“I’ll tell you what (they) paid for the land, it was $20 million,” Roggin said on the Scott and BR show. “The (Carson) mayor told me that. $20 million for 11 acres.”

If the Chargers and Raiders do not end up building the stadium, the land would be returned to the city at no cost, according to Fabiani.

Wheels for the stadium talks began to move fastly this week after the Citizen Stadium Advisory Group announced their financing proposal for a new San Diego stadium on Monday.

The Chargers then followed with several moves of their own, including Dean Spanos relinquishing his daily duties to his sons, hiring longtime NFL executive Carmon Policy to take over Carson negotiations and then the purchase of the land in Carson.

[Boltaction]

The Chargers are doing everything to fast track the Carson Stadium including spending more dollars:


Costs of fast-tracking NFL stadium plans in Carson

http://www.latimes.com/sports/nfl/la-sp-nfl-stadium-costs-20150506-story.html

Both projects used local ballot initiatives to skirt months of time-consuming environmental reviews that used to be standard in major development projects in California. After collecting enough signatures to qualify for the ballot, both cities gained approval from their local city councils and won full entitlements in a matter of weeks.

Carson carried a lighter footprint, though the $534,000 sum probably will grow when April reports are filed. Carson2Gether, which is a 50-50 joint venture of the Chargers and Raiders, spent more than $120,000 on signature-gathering with Kimball Petition Management in Thousand Oaks, $79,000 with a Sacramento law firm that specializes in initiatives, and $55,000 on a "digital campaign" firm from Kennebunk, Maine.

It also spent $1,600 to hire the Los Angeles Fife and Drum Corps, which led a parade when 15,000 signatures were delivered to Carson City Hall in March. That effort could still face a referendum, which would force a public vote, though none has yet been filed.