Veto puts funding back on to finish Cards stadium

[Derm]

Veto puts funding back on to finish Cards stadium


Pat Flannery
The Arizona Republic
May. 20, 2005 04:35 PM

A $53 million bond issue to finish building Cardinals Stadium and buy special-event seating is back on track following a key line-item veto by Gov. Janet Napolitano.

Napolitano on Friday vetoed a budgetary provision that would have stopped the Arizona Sports and Tourism Authority's receipt and use of certain state general funds. Those revenues total an estimated $1.2 million this year and $1 million next year.

"I line-item-vetoed it because the cost savings to the state from such a cut are minimal, but the effects these cuts would have on the Authority and on Arizona's prospects for hosting economically productive sporting events are significant," her veto message said.

House Appropriations Committee Chairman Russell Pearce, R-Mesa, sponsored the measure, arguing that the funding was bad public policy that could end up costing much more in the future. House Speaker Jim Weiers said Friday that it appeared "the governor has more of an obligation to professional sports than she does to the children of this state.

Authority President Ted Ferris said bond advisers warned that the proposed cuts to the authority's budget would hurt its ability to issue bonds.

Roughly $5 million of the upcoming bond issue will buy 10,000 temporary "extravaganza" seats to expand the Glendale stadium's capacity to 73,000 for the 2008 NFL Super Bowl, the annual Fiesta Bowl and the 2007 collegiate Bowl Championship Series.

On Friday, the authority board voted to sell the final bonds in six to eight weeks. Most of the proceeds will finance such finishing touches as an outdoor plaza, lighting, parking, landscaping and roadwork. The $370.6 million venue opens in August 2006.

 

[JasonKGME]

What amazes me on the whole concept is take the economic impact of just 1 Super Bowl, dont take in the final four, the fiesta bowl every year or anything else, just the 1 super bowl which has an economic impact of around $800 million dollars on the host state, now take just 1% of that as the state taxes (actual state tax is actually around 3-5% but lets go bottom line of 1%) and that is $8 million in taxes from just 1 event, doesnt that cover the override on the tax for about 7-8 years?? Now if you take the actual amount of state taxes made and its about $30 million which would cover about 25 years, just from the 1 event, and since the amount the law covers is only for 30 years, that means if we have no other events bringing in cash at all then the state would lose money, but the fiesta bowl every year brings in about $50 million each year so $500K * 30 years = $15 million covering any possibility of a short fall making up the tax money that would go to the stadium/sports authority

Do the math Pearse, you want to waive about $100 million minumum + in additional tax revenue over the next 30 years to save $30 - $45 million to pay for the additional seating???? brilliant, just brilliant.

 

[Renz]

A $53 million bond issue to finish building Cardinals Stadium and buy special-event seating is back on track following a key line-item veto by Gov. Janet Napolitano.

:notworthy

 

[Prindel]

What a great night

The Suns close out the Mavericks, and our Governor uses her line-item veto to save the stadium funding!!! Arizona won tonight (no doubt about that!)


Prindel

 

[justAndy]

...

why do those right wing politicos hate the Cards so much?
Why are they so pennywise?

 

[az jam]

Hats off to our Governor. Common sense prevailed.

 

[NickelBack]

Kudos to Gov Napolitano.

Each and every one of us owe her our vote next fall!

 

[AzCards21]

why do those right wing politicos hate the Cards so much?
Why are they so pennywise?

Interesting you spend from 30 to 120 minutes with these nut jobs at every halftime meet all of which voted for and still support the new stadium.

Why are you bringing this political affiliation bull **** into a fans domain?

The political affiliations stop at the ticket gate. We're getting our much deserved stadium that we all support. That's all that matters.

 

[Stronso]

Good job Janet!!

 

[Capital Card]

Interesting you spend from 30 to 120 minutes with these nut jobs at every halftime meet all of which voted for and still support the new stadium.

Why are you bringing this political affiliation bull **** into a fans domain?

The political affiliations stop at the ticket gate. We're getting our much deserved stadium that we all support. That's all that matters.

 

[Scott MS]

What always amazed me regarding the stadium is that people don't understand that much of the funding was done through tourism taxes and the Super Bowl and Fiesta Bowls will bring some much revenue to Arizona business. In the end, the stadium is a win-win for everybody in Arizona, and the Governor certainly knows it.

 

[justAndy]

Interesting you spend from 30 to 120 minutes with these nut jobs at every halftime meet all of which voted for and still support the new stadium.

Why are you bringing this political affiliation bull **** into a fans domain?

The political affiliations stop at the ticket gate. We're getting our much deserved stadium that we all support. That's all that matters.

if any Demos were repeatly bring theses anti-stadium bills up, I wouldn't single out the Repubs - irony being I AM a Republican - but a moderate - not like the extremists that have taken over.
Also - this is a thread ABOUT politicians getting involved in OUR stadium, so i felt is was apropos...

 

[RedViper]

The democrats take their shots at the Cards and the stadium when it suits them. In this case however, the Pierce crowd hates this governor and is doing anything it can to take her down. Obviously the millions of dollars, these national events will bring show the governor's move is the right one. But the key to this thing are in comment's like the one above, the governor cares more about the Cardinals than kids. Thats the meat of this thing.

 

[azsouthendzone]

I'm a Republican who voted for Napolitano because of situations like this. I guarantee if Salmon was elected there would not have been a line item veto. I think Janet has her faults as much as any other elected official, but she has earned my vote a second time.

 

[TruColor]

Interesting that this story seems to have been buried a little bit on the azcentral.com site...

 

[NickelBack]

Interesting that this story seems to have been buried a little bit on the azcentral.com site...

Just as long as it was good new - they can out it wherever they like!

 

[WizardOfAz]

Each and every one of us owe her our vote next fall!

I agree - keep bumping this thread until November!

 

[NickelBack]

House Speaker Jim Weiers said Friday that it appeared "the governor has more of an obligation to professional sports than she does to the children of this state.

Aren't the first two big events at the stadium scheduled to be college football anyway?

 

[pete]

I'm a Republican who voted for Napolitano because of situations like this. I guarantee if Salmon was elected there would not have been a line item veto. I think Janet has her faults as much as any other elected official, but she has earned my vote a second time.

I voted for Napolitano the first time and I'll vote for her again. She's the best man for the job.

 

[NickelBack]

I voted for Napolitano the first time and I'll vote for her again. She's the best man for the job.

Whatever keeps shi theads like Pearce away from our stadium!!