(Lawrenceville, Georgia) - Three years after Gwinnett County leaders promised that a minor league baseball stadium would pay for itself, the county finds that it will need more tax money to cover the cost.
The county already uses rental-car tax revenue to help pay the mortgage at Coolray Field. But, because of the shortfall they plan to use hotel-motel taxes as well.
Three years ago Gwinnett County leaders promised that the $64 million minor league stadium would be an economic shot in the arm for the county and region. That promise remains just a promise.
Staduim budget projections show that county leaders will need another source of cash to help pay the annual mortgage of more than $2 million. It seems that taxpayers will be asked to foot the bill again.
"Where else is the government going to get its money from? It's not going to get it from the revenue at the stadium,” said Kennesaw State economist and longtime critic of the stadium J.C. Bradbury. Bradbury said that he's not surprised by the shortfall.
The county has several money sources that help pay for the stadium; such as ticket surcharges, parking fees and team contributions. In addition to these sources of revenue the county also uses rental-car tax revenues.
County budget projections now show that beginning in 2012 more than $65,000 in hotel-motel tax revenue will have to go towards stadium debt.
"We consider it a tremendous asset for the county,” said Gwinnett Convention and Visitors Bureau CEO Preston Williams. "The stadium is a destination; but, like any business, baseball is not immune to a bad economy. The stadium will generate the revenue streams it needs to generate," said Williams.
But for now, it appears that the operating shortfall will rely on Gwinnett taxpayers.
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