Wednesday, September 14, 2005

Funding for RSL Stadium

One option available to Salt Lake City to help finance a stadium is the SEA Sales Tax mechanism. SEA (Sports, Entertainment, and Art) takes sales taxes generated by a new sports, entertainment, or arts facility (soccer stadium) and returns it to the entity that made the investment in the facility. It's like an RDA but with sales tax increment rather than property tax increment. Although the emergence of this plan gives downtown Salt Lake new hope of landing the RSL stadium, this option is also open to arch- rival Sandy and there still appears to be no organized plan for Salt Lake City to make this happen.

4 Comments:

Blogger Reach Upward said...

The trouble with this is that people have to start paying the taxes on estimates long before the generation phase begins.

9/15/2005 09:17:00 AM  
Blogger Shawn said...

I thought there was no public financing for the project (apart from the deferred SEA increments)- am I up in the night? Otherwise, generation would occur simultaneously with tax collection, thereby reimbursing the private funding for the project.

9/15/2005 02:22:00 PM  
Anonymous dexter said...

i read that as arch evil sandy.
hmmm

9/15/2005 06:29:00 PM  
Anonymous Anonymous said...

Brownie Pan Point Tally:

Me: 0
Ethan: 1

9/18/2005 07:55:00 PM  

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