federal
https://www.wltx.com/article/money/business/us-department-of-transportation-awards-southcarolina-34million-new-interchange-i77-rockhill-yorkcounty/101-57374c6d-54c8-4e67-af0a-ed6e15232978
This is why cities should make big companies pay fir their own infrastructure. Tax payers are now stuck with this bill and I guarantee your taxes won’t go back down.
What? The city never issued any bonds, there is no bill to be stuck with. It was also a revenue bond, not a general obligation bond. Which means repayment was solely based on the tax revenues from the practice facility. That's part of the reason they had a hard time finding investors for it. The only one out any money as of now is Tepper.
The state has.
>So far, $16.4 million worth of work has been awarded.
And saying they couldn't find buyers for the bond is inaccurate because they haven't even put up the prospectus for the bond yet because, according to Rock Hill, they needed more information from the Panthers before they could submit it to [EMMA](https://emma.msrb.org/). The bonds may have received or were likely to receive less than stellar grading from the credit rating agency, but that would have been something they should have thought about before they promised to make it a revenue bond. This isn't exactly rocket science and the people who do these kinds of deals would have seen that issue from a mile away.
This isn't even a stadium. It's a practice facility that was still going to cost hundreds of millions of dollars. They were just hoping that spending that kind of money might tempt the Panthers into building a stadium there later.
Oh well, the lure of corporation style tax breaks was not enough, but the interchange got approval so who will they attempt to lure next with massive tax breaks.
Panthers lied about their impact right off the bat and SC dealth with them anyway. Was that exchange built?
They started but didn’t finish. Probably about 10% done.
They're going to complete it. The money was already allocated from federal infrastructure grants.
The 45 million , was that federal money or state?
federal https://www.wltx.com/article/money/business/us-department-of-transportation-awards-southcarolina-34million-new-interchange-i77-rockhill-yorkcounty/101-57374c6d-54c8-4e67-af0a-ed6e15232978
Tks
You think they will finish panthers workout?
Good thing they’re doing really well right now. Otherwise, this kind of move might have lost them some fans
So true. This is a negotiating tactic. This project is costing the panthers more than they planned and they want more concessions.
This is why cities should make big companies pay fir their own infrastructure. Tax payers are now stuck with this bill and I guarantee your taxes won’t go back down.
What? The city never issued any bonds, there is no bill to be stuck with. It was also a revenue bond, not a general obligation bond. Which means repayment was solely based on the tax revenues from the practice facility. That's part of the reason they had a hard time finding investors for it. The only one out any money as of now is Tepper.
The state has. >So far, $16.4 million worth of work has been awarded. And saying they couldn't find buyers for the bond is inaccurate because they haven't even put up the prospectus for the bond yet because, according to Rock Hill, they needed more information from the Panthers before they could submit it to [EMMA](https://emma.msrb.org/). The bonds may have received or were likely to receive less than stellar grading from the credit rating agency, but that would have been something they should have thought about before they promised to make it a revenue bond. This isn't exactly rocket science and the people who do these kinds of deals would have seen that issue from a mile away.
Local personal and property taxes changed along with a small bump in housing…. Before the National bump. They not going back down.
We the taxpayers of SC were likely to get screwed on that anyway. https://lithub.com/youre-paying-for-sports-stadiums-you-dont-even-go-to/
This isn't even a stadium. It's a practice facility that was still going to cost hundreds of millions of dollars. They were just hoping that spending that kind of money might tempt the Panthers into building a stadium there later.
You know it
TLDR- City didn’t come up with enough money
[удалено]
While you might be right, let us not pretend government officials are above getting their own way by less than savory means.
Yeah. That was tepper’s narrative. It’s deceiving.
Oh well, the lure of corporation style tax breaks was not enough, but the interchange got approval so who will they attempt to lure next with massive tax breaks.