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New LSU arena depends on Baton Rouge, state giving up some sales tax money
Posted on 7/25/25 at 5:15 pm
Posted on 7/25/25 at 5:15 pm
LINK
quote:
A deal discussed to build a new LSU arena would hinge on both the Metro Council and university officials agreeing to let the developer involved in it tap sales tax revenue related to the project, documents show.
A draft agreement from November, obtained through a public records request, calls for local and state government to give up sales tax collections generated in and nearby the arena.
Baton Rouge would "rebate" 2 cents of sales tax, and the state 2-4 cents. The rebate would go to Oak View Group, the company that is the sole finalist to build the new arena.
quote:
In the deal's term sheet draft, OVG acknowledged the Tiger Athletic Foundation — a nonprofit supporting LSU athletics that is shepherding the arena project — has no authority to force government officials to rebate those taxes. But it says "this requirement shall be a condition to the closing."
It's not clear how much taxpayer money that deal would entail or if the terms of the agreement have changed in the months since that draft circulated. LSU officials have previously emphasized that no deal has been finalized.
LSU officials did not respond to multiple requests for comment on the status of the deal or the arena project in general.
16
Posted on 7/25/25 at 5:28 pm to Major Dutch Schaefer
Absolutely not. The arena is financially viable without a sales tax rebate. The developers can borrow money from banks and pay those loans back with the profits generated by the arena. And if the Oak View Group walks, find another developer.
Posted on 7/25/25 at 5:30 pm to Major Dutch Schaefer
Should just dedicate all NIL tax to the arena
Posted on 7/25/25 at 5:31 pm to Major Dutch Schaefer
Nope. Absolutely not. Why would I give LSU money when they're gonna keep nickel and diming me on everything else. There are also people in this parish that will never step foot in that arena, why should any of their money go towards it? They can raise the money elsewhere.
This post was edited on 7/25/25 at 5:33 pm
Posted on 7/25/25 at 5:49 pm to LSUSkip
The arena on the Texas campus Moody Center was a joint venture with the university and the city of Austin. The LSU project was modeled after the Texas arena. Been there a few times for concerts and comedy shows. Really nice facility. Some how I knew Louisiana would screw this up. No big surprise. It would be a great venue for both LSU and the City. LA politics as usual.
Posted on 7/25/25 at 6:01 pm to Major Dutch Schaefer
Then I say nope. Let LSU pay for it or play in Pmac.
Posted on 7/25/25 at 7:03 pm to Major Dutch Schaefer
This is not new news at all. Having some of the sales tax revenue from the businesses that will basically only be there because of the new arena is what they are talking about. Despite the headline from nola.com, this type thing is very common.
Posted on 7/25/25 at 7:08 pm to LSUSkip
quote:
There are also people in this parish that will never step foot in that arena, why should any of their money go towards it?
calls for local and state government to give up sales tax collections generated in and nearby the arena
A lot of yall just complain just to complain on here and have absolutely no idea what you’re talking about.
Posted on 7/25/25 at 7:23 pm to LSUbasketballfan
Thats where it starts, then it'll become a larger area, although I'm hoping that the new LSU zip code that's being created has something to do with this.
We know how this goes, it's been done before. Before long the city or parish is voting on a dedicated tax just for the arena.
We know how this goes, it's been done before. Before long the city or parish is voting on a dedicated tax just for the arena.
Posted on 7/25/25 at 7:37 pm to tigbob
quote:
The arena on the Texas campus Moody Center was a joint venture with the university and the city of Austin. The LSU project was modeled after the Texas arena. Been there a few times for concerts and comedy shows. Really nice facility. Some how I knew Louisiana would screw this up. No big surprise. It would be a great venue for both LSU and the City. LA politics as usual.
I might be wrong but this doesn't sound like "Louisiana politics" this sounds like the developer is trying to extort the community for every dime they can.
Posted on 7/25/25 at 8:07 pm to Hamma1122
Do not see this happening. City already has significant financial problems. Why would City want to sink in a deeper hole with an LSU group who is wanting to enter into a NO-BID contract for the arena development?
Posted on 7/25/25 at 8:14 pm to Major Dutch Schaefer
This is fairly common for major cities and multi purpose arenas for said city.
At least people would see actual results with their tax dollars. Seems relatively small to help cover the expense.
At least people would see actual results with their tax dollars. Seems relatively small to help cover the expense.
Posted on 7/25/25 at 8:19 pm to tigerbait2010
No bid.. nothing can go wrong with Louisiana politics.. no bid.. and money
“ AUSTIN, Texas — A federal grand jury has indicted a major entertainment executive for allegedly rigging the bidding process to develop the Moody Center in Austin.
Timothy Leiweke, the now-former CEO of Denver-based sports and real estate company Oak View Group, is accused of conspiring with a competitor to rig the contract for the $338 million arena that opened in 2022.”
“ AUSTIN, Texas — A federal grand jury has indicted a major entertainment executive for allegedly rigging the bidding process to develop the Moody Center in Austin.
Timothy Leiweke, the now-former CEO of Denver-based sports and real estate company Oak View Group, is accused of conspiring with a competitor to rig the contract for the $338 million arena that opened in 2022.”
Posted on 7/25/25 at 8:21 pm to HEtiger
Another option would be to add an extra sales tax to everything in the LSU economic development district. Which wouldn't even need city-parish approval. I like the rebate option instead.
This post was edited on 7/25/25 at 8:23 pm
Posted on 7/25/25 at 8:24 pm to LSUSkip
quote:
There are also people in this parish that will never step foot in that arena, why should any of their money go towards it?
I don't step foot onto everything my local tax dollars go to, but it doesn't mean I'm never going to be impacted by the taxes I pay. If this arena ever comes to fruition, you will have more jobs, local revenue, visitors, etc. All things that spend money in the area and get taxed.
I disagree with the university trying to be cheap on the project because we should be able to take out some type of $500 million loan, do the project right, and get this done in 2 years. We just have shitty leaders in every level of government and in the university that are all thinking "how can this benefit ME" instead of thinking about the fans who are going to spend their money here.
Posted on 7/25/25 at 8:26 pm to BilbeauTBaggins
The University of Texas has more money than LSU could ever dream of and even they financed a new arena this way. It’s just lunacy to take out that kind of loan-especially when we are probably still paying off the previous TS expansion.
I just don’t see the big deal. It’s an incremental tax and the state/community will actually see a tremendous impact from it.
I get many on here are conditioned to nothing ever nice happening to Baton Rouge, but look at any major city with a professional team. The taxpayers normally foot the bill and you’re talking about projects that cost 5-10x more than this arena
I just don’t see the big deal. It’s an incremental tax and the state/community will actually see a tremendous impact from it.
I get many on here are conditioned to nothing ever nice happening to Baton Rouge, but look at any major city with a professional team. The taxpayers normally foot the bill and you’re talking about projects that cost 5-10x more than this arena
This post was edited on 7/25/25 at 8:28 pm
Posted on 7/25/25 at 8:35 pm to Major Dutch Schaefer
Lets see what Sid can do!!!!
Posted on 7/25/25 at 8:43 pm to oldskule
quote:
Lets see what Sid can do!!!!
St John Neumann Activity Center was the place to be when he had the Wolfpack rolling
Posted on 7/25/25 at 9:19 pm to tigerbait2010
quote:
I get many on here are conditioned to nothing ever nice happening to Baton Rouge, but look at any major city with a professional team. The taxpayers normally foot the bill and you’re talking about projects that cost 5-10x more than this arena
I’m tapped out on contributing to the cause. The income tax revenue on LSUs football roster should be good enough to
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