in Houston, Texas
More on Sports Authority bond problems
Tue Oct 27 09:45:48 2009 CST
By Jennifer Peebles
Ouch, ouch and more ouch -- in the billfold -- from this morning's Chronicle in regard to an entity we've previously written about, the Harris County-Houston Sports Authority:



Harris County taxpayers may have to inject up to $7 million a year into the Harris County-Houston Sports Authority for the next two years due to a financial crisis sparked by the souring of bonds used to build Minute Maid Park, Reliant Stadium and the Toyota Center.

...

The authority would have to take $7 million a year now used for stadium maintenance and the expenses of the Harris County Sports and Convention Corporation and spend it on repaying the loans. To make up the difference, Harris County may have to pick up some of those expenses with property tax revenue, a step that some say indirectly violates stadium boosters' promise that taxpayer dollars would not be used to pay for the new venues.


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Comments
tired dog
Tuesday, 10/27/2009 - 10:55
We've no shortage of fools who buy the 'won't cost the taxpayer a dime' line every damned time. Now we watch the hatching of a giant sucking TIRZ to build the soccer pork, and for other purposes.
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