Jaguars New Stadium?

[Kerry]

Just came across this from John Stossel.  The Jags are 9n the list of teams that earn more from their stadium deal than it costs to build the stadium.

https://m.youtube.com/watch?v=rHErCY2PZNU&feature=youtu.be

[JBTripper]

Just came across this from John Stossel.  The Jags are 9n the list of teams that earn more from their stadium deal than it costs to build the stadium.

https://m.youtube.com/watch?v=rHErCY2PZNU&feature=youtu.be

Actually 6th, but good for the Jaguars!

This video doesn't reveal anything new or groundbreaking. Of course the taxpayers don't see any of the money from concessions or merchandise sales at the Super Bowl. They don't stock the merchandise or staff the concession stands, so why would they? The taxpayers are paid in the sales tax on those items, and the sales tax on the hotels and restaurants that more than a million out-of-town guests will be using this week. Does the city turn a profit or even break even? No, but they get an NFL team, an MLS team, a facility to host the Rolling Stones, Garth Brooks, Monster Jam, Georgia high school state champioships, the Peach Bowl, the SEC Championship, Chick-fil-a Kickoff Classic and all manner of other events that would otherwise take place in Birmingham, Charlotte, Tampa or even Jacksonville. And the tax revenues resulting from those events still don't cover the cost of the stadium... but those events are taking place in your city and you can enjoy them. Is there no value in that?

[BridgeTroll]

Just came across this from John Stossel.  The Jags are 9n the list of teams that earn more from their stadium deal than it costs to build the stadium.

https://m.youtube.com/watch?v=rHErCY2PZNU&feature=youtu.be

Actually 6th, but good for the Jaguars!

This video doesn't reveal anything new or groundbreaking. Of course the taxpayers don't see any of the money from concessions or merchandise sales at the Super Bowl. They don't stock the merchandise or staff the concession stands, so why would they? The taxpayers are paid in the sales tax on those items, and the sales tax on the hotels and restaurants that more than a million out-of-town guests will be using this week. Does the city turn a profit or even break even? No, but they get an NFL team, an MLS team, a facility to host the Rolling Stones, Garth Brooks, Monster Jam, Georgia high school state champioships, the Peach Bowl, the SEC Championship, Chick-fil-a Kickoff Classic and all manner of other events that would otherwise take place in Birmingham, Charlotte, Tampa or even Jacksonville. And the tax revenues resulting from those events still don't cover the cost of the stadium... but those events are taking place in your city and you can enjoy them. Is there no value in that?

A huge unmeasurable value... but if pro or college football is not to your liking... Hate ancient rock bands or country music... would never go to a monster truck show then it it is a giant waste of tax-payer money...

[vicupstate]

They don't stock the merchandise or staff the concession stands, so why would they?

Because the taxpayers paid for the stadium including the space for the concession stands. They pay to maintain it too. 

Sales taxes are paid on everything sold at Avenues Mall or SJTC, but the taxpayers didn't build or maintain those structures. 

[Kerry]

If we get repaid for the stadium through taxes, those taxes need to be a lot higher.   I propose a Taxpayer Recovery fee to be assessed on every purchase at the stadium.

[JBTripper]

Some folks can't see the forest for the trees.

My point was not that the taxpayers do or should ever expect to recoup their investment in event facilities, but the idea that the taxpayers get literally nothing from having event facilities in their city is ludicrous. They collect sales taxes on everything sold at the facility. They collect bed taxes paid by out-of-town visitors who otherwise would have no reason to set foot in their city. They collect rent from the teams and other event organizers who use the facility. And, most importantly, they get to have desirable events in their city.

You may not care for the NFL, classic rock, monster trucks or fun in general, but these things do improve the quality of life for your fellow Jaxons. They are also undeniably important for the recruitment and retention of a skilled and educated workforce (who pay taxes, and may even one day employ the fun-hating set). Existing residents might spend their entertainment dollar at the movies absent an NFL team, but Tinsletown doesn't have quite the same impact as the Jaguars for somebody considering job offers in Jacksonville and Birmingham.

[Steve]

Some folks can't see the forest for the trees.

My point was not that the taxpayers do or should ever expect to recoup their investment in event facilities, but the idea that the taxpayers get literally nothing from having event facilities in their city is ludicrous. They collect sales taxes on everything sold at the facility. They collect bed taxes paid by out-of-town visitors who otherwise would have no reason to set foot in their city. They collect rent from the teams and other event organizers who use the facility. And, most importantly, they get to have desirable events in their city.

You may not care for the NFL, classic rock, monster trucks or fun in general, but these things do improve the quality of life for your fellow Jaxons. They are also undeniably important for the recruitment and retention of a skilled and educated workforce (who pay taxes, and may even one day employ the fun-hating set). Existing residents might spend their entertainment dollar at the movies absent an NFL team, but Tinsletown doesn't have quite the same impact as the Jaguars for somebody considering job offers in Jacksonville and Birmingham.

While I'm not going to say that I side with the Jags and Khan on everything (because I do think taxpayer money at times in the Jags history has gone too far in their direction), the stadium is a public asset, like the riverwalk, or any other city park. Do I think that we need to maintain those places better? Emphatically YES. Does that mean we shouldn't sink a dime into the stadium? No.

[FlaBoy]

Let's be frank, they are asking for a roof on the current stadium or a rebuild. That is also why they want the convention center over there so they can create something similar to Atlanta or Indianapolis for conventioneers and have the area as a convention center/events district. I really think the NFL loves the Indiana Convention Center (hold the combine there every year) and Khan bought into the idea of bundling an indoor stadium with meeting space, a convention center, amphitheater, area, minor league baseball stadium, and entertainment/mall, all within a half mile distance. Just my opinion. Indy, though, also has the downtown core a lot closer.

I think the roof will be the move, as I think that is why they built Daily's Place and want to move forward with Lot J.

[thelakelander]

Indianapolis works because everything is in the core and clustered together. It appears they purposely planned their public investments in a way where they'd build off each other. We're still struggling to accept that basic concept.

[Kerry]

Khan wants a roof - great!  He can write the contractor a check and start construction.  No need to wait 10 years.

[vicupstate]

We're still struggling to accept that basic concept.

Actually, more like actively working against that concept.

[jaxjags]

I think you miss the point. Khan does not own the stadium or Dailey's Place. I believe he does not control entertainment events at the stadium. That is SMG. He does control Dailey's Place. Khan (nor my self) will spend millions of dollars on a facility he does not own. That is the point of joint projects. If he and the Jags leave town, the facilities are still there and owned by you and me.

[JBTripper]

I think you miss the point. Khan does not own the stadium or Dailey's Place. I believe he does not control entertainment events at the stadium. That is SMG. He does control Dailey's Place. Khan (nor my self) will spend millions of dollars on a facility he does not own. That is the point of joint projects. If he and the Jags leave town, the facilities are still there and owned by you and me.

Yes. Khan will no sooner finance a roof on a building he does not own than you or I will personally finance a beach restoration project. Yet, he has already paid for roughly $100 million in improvements to the city's facility, and is vilified by some for it. Wealth envy is a powerful emotion.

[Kerry]

I'm sorry.  I was under the impression a roof would enhance HIS customer's experience and increase HIS bottom line.  If not, why would he even want it?

Why wait 10 years making his customers suffer?  Just so he can use it as bargining chip later?

[vicupstate]

I think you miss the point. Khan does not own the stadium or Dailey's Place. I believe he does not control entertainment events at the stadium. That is SMG. He does control Dailey's Place. Khan (nor my self) will spend millions of dollars on a facility he does not own. That is the point of joint projects. If he and the Jags leave town, the facilities are still there and owned by you and me.

He controls the use of both facilities to his whims. He is spared the expense of property taxes because he doesn't 'own' it.  He is also spared the expense of maintenance and yet controls the event calendar and most of the revenue.  It is BETTER than owning it. These upgrades and luxuries that are not in any way required for the other events held there.     

[quote/]
Yes. Khan will no sooner finance a roof on a building he does not own than you or I will personally finance a beach restoration project. Yet, he has already paid for roughly $100 million in improvements to the city's facility, and is vilified by some for it. Wealth envy is a powerful emotion.

The Stadium does not need a roof for anything it is currently used for, including football.  Cities that do not have NFL team do not build new public sports facilities every 20 years with major upgrades in between. This will be a lot of money that could be spent on many other things. It is completely valid and expected to question this aggrandizement of an individual's net worth at public expense. The 'wealth envy' comment is nonsense.