The Philadelphia Union, the local MLS team, will get $250,000 in county tax breaks for their new Stadium, WSFS Bank Sportsplex. Specifically, the Delaware County Council allowed the Philadelphia Union to not pay any county real estate taxes. This lasts for the next 10 years and will be done on a sliding scale that starts at the team being exempted 100% this year and down to 10% at the end. According to the city and not a single economist alive, this should allow for the city to see direct spending increase by $9 million dollars. Why? Because this new stadium will be life-changing. Millions in economic impact. Tons of new jobs.
Tag: Stadium
Why in the world would the city of Jacksonville pay 70% of the stadium upgrades?
Jacksonville has already given so much to the Jaguars. Remember when the city hosted the Super Bowl in 2015? Around $40 million dollars in taxpayer money was given to the team to improve the stadium just for that game. In 2013, the city gave the team another $45 million for upgrades and renovations. In 2015, the city split the bill with the team on a $90 million project....so another $45 million.
Charlotte taxpayers will be paying for a new stadium shortly
South Carolina House member John Ray Bradford stated that by keeping certain hospitality taxes in place until 2060, people should be happy because they are “not increasing any taxes”. Except, without this extension, locals would have paid less at hotels, bars, restaurants, etc… in the future. He also claimed that the city would have more confidence going to banks with more taxpayer money? Or something. My confidence is always sky-high whenever I see my “local hospitality lobbyists” being the ones who are dictating city/state policy for stadium funds.
How dare the city of Chicago ask the Bears to pay property taxes like everyone else
The Chicago Bears publicly admitted to buying land in nearby Arlington Heights to likely build a new stadium. However, it appears that a Chicago (technically Cook County) assessor is now holding the Bears accountable for future property taxes on this land. The county assessor raised the property tax value of this land by six times (applies to tax year 2022 and beyond), and that does not even include the construction that will be done.
Buffalo Bills exec promises that, unlike last stadium, developers will flock to the new one
Last year, New York lawmakers gave the Buffalo Bills $850 million dollars in taxpayer money to help the NFL team build a new stadium. The New York Legislature managed to craft one of the worst stadium deals in recent memory. The $850 million dollar figure does NOT include a significant number of subsidies such as maintenance costs and property tax exemptions. Therefore, the bill will likely be at minimum $1 billion. Then again, since the deal was agreed upon last year, the price of it has already gone up 10%, so it could be even higher.
Inter Miami: We agreed to build a park? Can we have some more public money then?
Four years ago, David Beckham and his partners (Inter Miami) came to Florida wanting to build a brand new soccer stadium. They asked the city of Fort Lauderdale for $170 million in taxpayer money.