A few years back, Dallas taxpayers fell prey to
the arena scam. You know the one, where a city "agrees" to build a multi-million dollar structure for a billionaire sports-team owner to use*. Here in Dallas we sweetened the developer pot by exempting the land
around the arena (an area booming with luxury high-rise apartments now) from paying millions in taxes which would go to the school district**. Then we gave the money from the naming rights to the billionaire team owner. When the deal was being made, we hadnt even finished paying for the
existing arena. The primary reason for building a new one? Not enough luxury boxes.
Now they're going to tear down the old (still unpaid for) arena. Primary reason for doing so? Because it's costing the city $6 million a year to keep it up. Primary reason it's costing so much to keep up? Because when the city built the new arena, they included a non-competition clause, pretty much assuring that the old arena would go unused. Now they're going to tear it down and sell the land. Hmmmm, do you suppose that the land will go to someone who'll pay a fair price for it? Oh wait! It's Ray Hunt, the guy who just happened to own the land that the new arena was built on. Imagine that!
But, Hey! You could maybe
buy a piece of it before it goes. Isnt that exiting?
* Often free (or relatively free) of charge; this is justified by the "economic benefits" of having a few years worth of construction jobs and decades of janitorial and food services jobs (plus the "benefits" of having millionaire sports figures living in a nearby suburb).
** Which, of course, makes perfect sense by Republican pay-as-you-go standards, since no one living there will have children anyway.