Shipyards appraised for $26 Million

[ProjectMaximus]

So if Shipyard get developed by Shad and the city get College Football championship game and other types of event..I think its more than 26 million revenue for the city.

What makes you say that? How so? With the current deal in place, I think you'd be expecting the city to lose a lot of money with each of those events. Which to me as a citizen is fine, but I'm just wondering how you think the city could make more than 26 million in revenue?

[Rynjny]

So if Shipyard get developed by Shad and the city get College Football championship game and other types of event..I think its more than 26 million revenue for the city.

What makes you say that? How so? With the current deal in place, I think you'd be expecting the city to lose a lot of money with each of those events. Which to me as a citizen is fine, but I'm just wondering how you think the city could make more than 26 million in revenue?

so you're saying the city lose money for events like Florida/Georgia game? revenue from people coming from other place to spent money in this city..food, hotel and entertainment, etc..

[ProjectMaximus]

So if Shipyard get developed by Shad and the city get College Football championship game and other types of event..I think its more than 26 million revenue for the city.

What makes you say that? How so? With the current deal in place, I think you'd be expecting the city to lose a lot of money with each of those events. Which to me as a citizen is fine, but I'm just wondering how you think the city could make more than 26 million in revenue?

so you're saying the city lose money for events like Florida/Georgia game? revenue from people coming from other place to spent money in this city..food, hotel and entertainment, etc..

When you say city are you talking about the government and taxpayers? Or the private sector? I assumed we were talking about the government. I am not an expert on this stuff but I am pretty sure the city struggles to break even on events like this. Indirectly, over time, there is a positive effect (we hope) for the city but you seemed to state so certainly that the city would see over $26 million in revenue from giving away the land.

The TU says this year's Gator Bowl saw $33.3 million economic impact (which will always be a generous estimate) and it cost the city $1.6 million simply to prepare the stadium. If those were all of the costs (obviously not with security, infrastructure maintenance, etc) then the city would need to have recouped 5% in taxes off that economic activity to break even. Possible, but seems a far cry from the revenue you suggested.

In any case, as a taxpayer, I DO want to see the property developed and I DO want to attract major events that may not produce revenue for the city. I think it's worth it for quality of life and indirect economic benefits. I was just curious and wanted to know what I might be missing in the equation if the city gives the land away.