What's the problem Memphis? The Imitation Game was released November 28th and it is not playing in ANY theatres in or around here. Typical I fear.
Well stated Mr. Berger.
Well said Mr. Taylor.
Water purifiers, canned chili and small arms. Check.
To clarify a few facts. The revenue bonds issued to pay for the Bass Pro Project are supported by the incremental growth in sales taxes (state and city portion of the sales taxes, so there is some city tax money involved) all over Downtown (not just in the Pyramid). The projections show that the revenue generated by the TDZ will be plenty to pay off the bonds, with lots of room for error. But in the event the projections are wildly incorrect to the negative, then ultimately the City of Memphis is committed to replinish the debt service reserve account with its general revenue excluding property taxes (fees, sales taxes, etc.), which is why the underwriters of the bonds based their ratings primarily upon the credit of the City of Memphis, the ultimate backstop for the bonds.
I hope it is not too late.
I am not so sure about that. Maybe those pathologies just have a greater negative effect in the inner city.
I agree with Morgan Freeman. The way to stop racism is to stop talking about it.
ArlingtonPop, "pathologies that effect the inner city" affect everywhere, different effect. Change one expect change in another.
Yep, but where to start? Frankly, I think it's all too late and plan on the continuum.
Glad we don't have Cabela's. Research on Bass Pro shows that 40% of visitors come from beyond 50 miles.
Basically, adressing ineffective policing either by adding more police or changing residency requirements is fine, but until the pathologies that effect the inner city black neighborhoods is adressed as well, nothing much will change.
Organize your thoughts and come back later.
If Deaunte Farrow were playing with his toy gun before the gated walls of Southwind Country Club, he would still be alive. And he would still be black.
Fix the crime problem in urban, blighted areas and the police will enjoy their rides through the neighborhood.
I just watched the report on Fox 13 and offer these observations:
1) West Memphis is one of the most dangerous communities in the US. What have community leaders done to improve that since the young man's death? Has it been effective?
2) Accountability is a two-way street according to Mr. Bailey. When the protestors try to lump the Farrow case in with the Brown case, this is lost. Brown was a criminal who assaulted an officer.
3) "Something should have been done. But nothing has been done." according to Mr. Bailey. What is the answer to item 1?
4) You lost me at Al Sharpton.
Ball State economist Hicks studied the economic impact of seven Cabela’s stores that opened between 1998 and 2003 and found that despite millions of dollars in economic development incentives given to the retailer, there had been no net gain in jobs detected in the communities one year after the stores opened.
Another interesting factoid: Cabela’s’ own data indicates the customer base of its stores primarily is people living in the communities where the stores are located.
The cost of the Pyramid renovation is $80 million. You're including the purchase of the convention Center in your total, which is understandable since the news media does it all the time. Also, the infrastructure isn't being paid for by taxpayers. It's paid from TDZ revenues.
And to say once again, no city funds. Revenue bonds are sold to bond holders who calculate risk and purchase them because of their confidence in the project. Finally, there's already enough money being generated in the TDZ to pay the bonds, so when the store opens, it's hard to imagine that they won't increase.
Back to your earlier examples, it's worth remembering here that Bass Pro has as much invested in this building as TDZ does, which is something that those cities didn't achieve.
There are no city funds?
Then where does this come from?
•An indoors cypress swamp will be created in Memphis as part of the $215 million taxpayers are contributing toward the renovation of the Pyramid Arena into a Bass Pro Shop. This includes money the city plans to spend to provide supporting infrastructure for the building.
What happens when the sales don't pan out, the sales that are supposed to pay for everything, when pie in the sky hits the observation deck? That money will still have to be paid. Who is going to pay it?
Here's the thing, Jeff. There are no city funds in The Pyramid project. That's why the deal here is better than all the others you list. There are no general obligation bonds from the city in the Pyramid project, there is no tax increment financing waiving city revenues, there is no PILOT waiving city revenues, there is no money coming out of the city budget.
The Pyramid is self-financing because of the TDZ. It's paid with revenue bonds from the sales inside the building.
That's why you should listen. You are applying generalizations and that has been often done on the Pyramid project. But it helps to get specific facts about this project rather than assuming it's like all the others. To say it again, the cities where the projects you mentioned are on the hook because those cities didn't negotiate as smart a deal as City of Memphis and they use city funds to back their deals. I know it's hard to give city officials credit, but your taxes aren't at risk because of what they did here.
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