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2005 House Bill 516 (Sports stadium subsidies)

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  • Introduced by Rep. Jody Richards on February 14, 2005, to allow cities with a population of at least 20,000 to finance up to 100% of the cost of a professional sports facility project with property tax revenues in a so-called Tax Increment Finance District. Under current law, only 25% of the cost may be funded with such revenues. The bill would also exempt such projects from a required “net positive economic impact” review that would be mandated for other such projects.
    • Referred to the House Economic Development Committee on February 15, 2005.

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Comments

Introduced by Rep. Jody Richards on February 14, 2005. New Comment

1) PORT FOR JERRY A. [by Anonymous Citizen on November 12, 2005]
This is not a logical idea.

I wonder, do legislators work with logical
ideas.

This will be a strain on budgets for both
the state and the city of Louisville.

Best to leave the wording the way it is.

After all, sports stadiums are entertainment
centers for a small number of the toal population.

These centers should be paid for, in part, by the
profesional organizations. Not on admission, but
as part of the signing for the bond issue.

That way, if things don't "work out" then they
can't pull a Baltimore and move to Maryland.

A great idea for Louisville, but I wonder how many
people from Inez, and the Eastern portion of the
state would be able to afford a ticket.

Among the most exp sports to take your children
is profesional basketball.

I know you will do whatever you want, but at least
I had a say.

Jim Anderson Stivers
Frankfort, KY.

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2) Cincinnati [by absher on November 14, 2005]
I kinda like the way the Queen City did it for Paul Brown Stadium and Great American Ballpark. They let the citizens of the Cincinnati vote on whether they wanted to pay a .5 cent tax (I forget what on) in order to build the new stadiums. It was just a tax in the city and they had a choice.
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