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Started By
Message
re: New LSU arena depends on Baton Rouge, state giving up some sales tax money
Posted on 7/26/25 at 10:08 am to CapitalTiger
Posted on 7/26/25 at 10:08 am to CapitalTiger
I spend a lot of time in pmac.. season tickets for mbb.. wbb. Gym. Vball
Who is going to buy all these premium seats.. vball. No .. gym.. it is full but the crowd is not going to pay high dollar.. they are family focused.. wbb.. before mulky it was a few fans and the players parents.. the crowd some money but a majority of fans are probably cost conscious. Mbb .. could be .. certainly not when jj was there our recent.. I realize possible but far in between..
Music.. yeah some but you will compete with Nola and even laffy..
I do not see it.. rip out some stuff and but in some premium seats in and see how it goes.. if successful.. have a plan to expand them .. pmac is fine for my experience. Seats good.. ac/heat works.. food variety solid.. screens big enough for me..
Look at how well the little shops are doing over by torcheys .. hit or miss and that is with the best queso in town there!
Who is going to buy all these premium seats.. vball. No .. gym.. it is full but the crowd is not going to pay high dollar.. they are family focused.. wbb.. before mulky it was a few fans and the players parents.. the crowd some money but a majority of fans are probably cost conscious. Mbb .. could be .. certainly not when jj was there our recent.. I realize possible but far in between..
Music.. yeah some but you will compete with Nola and even laffy..
I do not see it.. rip out some stuff and but in some premium seats in and see how it goes.. if successful.. have a plan to expand them .. pmac is fine for my experience. Seats good.. ac/heat works.. food variety solid.. screens big enough for me..
Look at how well the little shops are doing over by torcheys .. hit or miss and that is with the best queso in town there!
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Posted on 7/26/25 at 10:22 am to Major Dutch Schaefer
Are those sales tax funds given to the builder in perpetuity … or just until facility is paid off then funds revert back to the city/state ??
Posted on 7/26/25 at 10:59 am to TigerSaurus
quote:
Are those sales tax funds given to the builder in perpetuity … or just until facility is paid off then funds revert back to the city/state ??
When contractors bid on projects they add sales tax to the cost of all materials, equipment purchased for the project and rentals. These costs are included in their bids.
When they purchase these items they pay sakes taxes. Then they invoice the owner/developer for the work they did that month (sales taxes included) and the owner/developer pays the contractor.
The vendor engaged by the contractors pay the taxes to the government.
At the end of the day the owner/developer pays the sales tax.
Posted on 7/26/25 at 11:14 am to Major Dutch Schaefer
How many years would the private company be entitled to recoup part or all of their investment? 10 years, 20, 30. 40, etc. ?
Posted on 7/26/25 at 11:23 am to Thecoz
quote:
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.”
Fake news! Louisiana is the only state where corruption like this happens.
Posted on 7/26/25 at 11:54 am to Crappieman
quote:
How many years would the private company be entitled to recoup part or all of their investment? 10 years, 20, 30. 40, etc. ?
I believe the original announcement said 40 years. Not sure though
Posted on 7/26/25 at 1:08 pm to doubleb
30 years. LSUAD takes full ownership and control at 30 years. My guess is the tax deal would last that 30 years.
Posted on 7/26/25 at 1:38 pm to GeorgeWest
quote:
30 years. LSUAD takes full ownership and control at 30 years. My guess is the tax deal would last that 30 years.
Thxs for clarifying that for me.
Posted on 7/26/25 at 1:39 pm to doubleb
30-years of guaranteed revenue for the developers is insanity. That isn’t capitalism, it’s corporate welfare.
Posted on 7/26/25 at 2:10 pm to Riverside
quote:
30-years of guaranteed revenue for the developers is insanity. That isn’t capitalism, it’s corporate welfare.
If a private developer is going to put up hundreds of millions of dollars, he wants to get it back plus a profit. That’s how capitalism works.
If it takes 30 years to realize a fair return then it’s a fair deal. If it takes a whole lot less time then it’s a bad deal for LSU.
But think about it. Say a developer puts up 300 million dollars now, how many years do you think it will take to get it back plus a fair rate of return.
Remember it’s his building and he has to operate it and maintain it. That would require a lot of private events each month. It is a risky proposition.
Posted on 7/26/25 at 2:43 pm to doubleb
quote:
Remember it’s his building and he has to operate it and maintain it. That would require a lot of private events each month. It is a risky proposition.
And lease it to LSU for $0 for 80-100 nights a year.
Posted on 7/26/25 at 2:48 pm to doubleb
Jerry Jones financed and built AT&T stadium without any taxpayer subsidies or backing. If this new arena development is viable, which I think it certainly is, it can be financed without the Parish giving away 30-years worth of sales tax revenue.
Posted on 7/26/25 at 2:54 pm to Riverside
quote:
Jerry Jones financed and built AT&T stadium without any taxpayer subsidies or backing.
quote:
To aid Cowboys owner and general manager, Jerry Jones, in paying the construction costs of the new stadium, Arlington voters approved the increase of the city's sales tax by 0.5%, the hotel occupancy tax by 2%, and car rental tax by 5%. The City of Arlington provided over $325 million (including interest) in bonds as funding
Posted on 7/26/25 at 4:50 pm to doubleb
I guess this method is not Preferable……
But the only Viable Option….
Unless someone here wants to donate approximately 300 million dollars to LSU !!
Posted on 7/26/25 at 5:44 pm to TigerSaurus
It probably is the only.option for the reasons stated above. Someone had to do some work and get a lot of events there. Otherwise, it will continue to be the feast or famine provide by lsu athletics
Posted on 7/26/25 at 6:25 pm to Major Dutch Schaefer
I don't think we need a new stadium. The fact is most of the CEO and upper management types create the need for this and then get rated on how much change they can manage. PMAC is good enough for basketball. Let BR build some venue for concerts. Screw the VIP seating crowd.
Posted on 7/26/25 at 6:29 pm to brickyard
attracting more paying customers than currently attend events at either venue.
quote:
No it doesnt. This arena is to replace the pmac and river center arena. What about the sales tax collected at those venues that will be no more?
Posted on 7/26/25 at 6:36 pm to hansenthered1
quote:
Let BR build some venue for concerts.
Funding it how? Sales tax district?
quote:
Screw the VIP seating crowd.
The revenue per seat with them is significantly higher than you and I in the general seats. LSU has to make money somewhere to remain competitive.
Posted on 7/26/25 at 7:10 pm to tigbob
Didn't they just arrest a guy from this same developer last week for bribery on another stadium deal?
Posted on 7/26/25 at 7:12 pm to tigerbait2010
quote:Well yeah, it'd be foolish for any of us to get a loan if we have access to taxpayer funds to skim!
It’s just lunacy to take out that kind of loan-especially when we are probably still paying off the previous TS expansion.
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