Documents obtained from the
The club's lease is due to expire at the end of 2021, though the
Under the terms of the lease, the
Documents show the authority has received an average of
That compares favorably with the stadium's original
The state also rents out the the brick
But, as Coates and others point out, the state's tab is considerably higher when financing costs are included.
The stadium authority said it pays about
The debt service, however, is paid with
Still, state officials — and at least one regional economist — declare
“It's unquestionable this has been a good thing for the city and state,” said
After being burned by the
Because the stadium was intended as an urban development anchor, the state believed it would receive a solid return on its investment. It didn't require the
“We didn't talk in those terms,” Belgrad said. “After our experience with the
The promise the team made was “to a long-term lease and to make
Spending associated with games at
The impact of fan spending and other stadium economic benefits is often the subject of debate in the academic community.
“Regarding the economic returns to the community, the consensus among economists is that these are too small to be able to measure, if they exist at all,” said
“It is of course possible that a city or state can end up spending too much, but
Before this season, the team paid for a new field, and the authority funded new LED lighting.
The club could use its own funds. The state holds a capital expenditure account that might be used. And since there is some retired debt on
“Many economists will still make the claims these types of investments do not make sense,” Basu said of
How paid: Financed with 30-years bonds at an annual cost of
State return: An average of
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