in_the_media
Expert: Final cost of new stadiums to exceed sticker price
Posted Jul 15, 2012
Media Outlet:
Las Vegas Sun
Some of the proposed Las Vegas-area stadiums are looking to use tools like tax-increment financing districts to cover the costs of construction “You’ll have a stadium, and that will increase property taxes, and the difference will be used to pay off the bonds,” said Joel Maxcy, a professor at Temple’s Sports Industry Research Center. “That’s the lure of a revenue bond in these situations. But if it doesn’t come through, the taxpayers are on the hook for it.”