"High rating" hidden

We were a little surprised this morning that a story showing the city at the top of one classification was way back on page C2.  (That’s the sports section, in case you’re wondering.)

The article concerned the percentage of cost of professional sports facilities borne by taxpayers in various cities, and we’re told Lucas Oil Stadium rates right up there with the highest in the country.  And we’re also told that this refers only to construction cost.

The author - an associate professor of urban planning at Harvard - has worked out an average figure of 78 percent for government cost, and 22 percent for the team.  We’re blessed that here in Indy, the "negotiating team" worked out a deal where the Colts put in just about 7 percent with government picking up the rest of the tab.

In referring to these high-end arenas, the article further points out that, "...the public share of the costs, once ongoing expenses are included, exceeds 100 percent of the building’s original price tag."

There is a brief reference to the advantage taken by the sports team through the use of "opaque finances."  That is the nice way of saying what the teams say to the city - "Don’t ask.  We ain’t gonna’ tell.  Just write the check!"

Also interesting is the conclusion that "The total cost of sports facilities has received little attention from researchers in part ‘because most economic analyses demonstrate that sports facilities produce very few or no net new economic benefits relative to construction costs...’."  (Our emphasis.)

We’re stuck with the stadium - and the fieldhouse.  Much to our regret.  But is it really impossible to re-do the tenants’ contracts?  It would really be a shame to bankrupt the CIB by expecting such a fragile financial organization to throw a couple of bucks into necessary municipal functions.  Even if they are specifically functions heavily used by those tenants.

When a golfer goes out for a round of golf, the taxpayer is not forced to shell out part of the greens fees.  Why should the golfer be forced to pay part of the cost for a football/basketball ticket?  If the cost of a loaf of bread is $1.50, we don’t expect the person in line behind us at the checkout counter to throw in the 50 cents.  The user pays what ever the full cost is.

Just put the increase needed for the public safety budget in the cost of the entertainment ticket, where it belongs.

Comments

[Fred McCarthy]

My memory of the deal - very possibly faulty at this time - was that the Colts were given public credit for a $100 million contribution when it was actually only $50 million because of the contract termination deal. Either way, it was a very good sample of the "negotiation" skills of the city.

[Louis C.]

I can recall when there was a Public Meeting for Building a New Stadium in place of Market Square at the City-County Building. The first group of speakers during the Public Comment raved about all the benefits a new stadium would bring to down town, and how we should be so "thankful" for the Pacers.

I spoke out at the end with others who opposed this Corporate Welfare Scheme. I knew in my heart the decision had already been made to build the stadium. The only question was how to finance it, not if it was wrong to build a new stadium with Tax dollars.

I can not a recall a single member of the Council who spoke out against this Scheme as being bad Public Policy.

Hudnut, Goldsmith, Peterson and Ballard have been united in this notion that whatever the CIB requires they should receive.

[Jim Fuquay]

Nice editorial. I loved the tongue in cheek touch. Too bad that you are probably beating a dead horse. Too many Indianapolis taxpayers and voters are what is nicely referred to by the media as "low information" voters. Until they awake from their deep sleep caused by the fragrant bullshit fed to them by city leaders not much will change. And, as long as our legislators and public officials continue to get free tickets, the fragrant bullshit will continue to be heaped upon us all.

[Gary Welsh]

The Colts didn't really put anything into the stadium. A fiction was created that the CIB opted to terminate the Colts' long-term lease on the RCA Dome prior to the end of its term, which required the terminating party to pay a termination fee. Irsay was extremely generous and said that he would contribute the $50 million termination fee he was to be paid towards the construction of the new stadium. Never mind that he was the one who told city officials they would either have to build a new stadium for his team or he would move it elsewhere.

[Vox Populi]

No one in the media in this town wants to publish those kinds of facts, can't upset the apple cart and lose our free suite tickets...

[Leslie Baker]

Typical.