SEATTLE basketball fans are excited by news that two different investor groups are trying to bring NBA basketball back to the region — either to the Eastside or Sodo area of Seattle.
But the idea will not go far unless the latest groups trying to replace the departed Seattle SuperSonics are willing to invest huge sums of private money in a team and an arena.
The current economic climate precludes public investment from any existing or new revenue sources, including the recently expired sales tax on bars and restaurants in King County.
An investor is acquiring property in the stadium area of Seattle and talks have taken place with Mayor Mike McGinn about efforts to attract a new NBA franchise and facility. Hockey is apparently part of the planning.
If the city wants to fast-track permits or make minor transportation adjustments to accommodate a job creating endeavor, that would be fine.
But with the state, county and city cutting numerous basic services, public investment cannot be part of the equation.
An investor is acquiring property in the stadium area of Seattle and talks have taken place with Mayor Mike McGinn about efforts to attract a new NBA franchise and facility. Hockey is apparently part of the planning.
If the city wants to fast-track permits or make minor transportation adjustments to accommodate a job creating endeavor, that would be fine.
But with the state, county and city cutting numerous basic services, public investment cannot be part of the equation.
. . .
But spending new taxes that only exist because professional athletes exists, that looks like a yes, as long as the tax can only be contained to those athletes and not spread to the rest of the population as an income tax.
One idea under consideration is to mix sizable private investment with some sort of tax on players or teams in all major league sports to cover the cost of building a new arena and future repairs to existing stadiums. This approach is used in a few other NBA locales.
If this becomes a prelude to an income tax, forget it. Voters are an unequivocal no on that idea. If it becomes something more creative, skepticism is the first reaction, but we need to hear more.
Seattle Times Editorials: Region's NBA dreams shouldn't involve public investment
Well, I think we all need to hear more about this "creative" idea. The sooner, the better.
Have a great day,
Mike Baker
Sent from my iPhone
Visit me here:
http://ManyWordsForRain.blogspot.com
