How much revenue will a minor league ball team generate to pay off $28 million? How much revenue will a parking deck generate to pay off $11 million? How much revenue will a conference center generate to pay off $4 million?

Take a look at Augusta's new parking deck. With the Riverfront LLC management deal in place, the deck is projected to be in the hole for every year in the foreseeable future. Likewise, the convention center is expected to lose a cool million bucks a year. It's kind of hard to pay off revenue bonds with negative revenue.

Taxpayers to the rescue!

Thank you for saying those kind things about me on your program just after four today. The main point I was trying to make up above is that such public enterprises as ball parks, conference centers, and parking decks do not generate any net revenue. Operating and maintenance costs outweigh rental fees.

The article up above says that the powers that be wish to burden the taxpayers of North Augusta with revenue bonds. It would be more honest for them to propose general obligation bonds, so the people could think soberly about the projects.

The politicians try to trick the people into thinking that revenue bonds will not cost them anything. That is not the whole truth.

No, ZCock, I live in West Augusta. But I urge the City Council of North Augusta to allow their citizens to vote on the taxation mechanism of this Jackson project. I urge the citizens of North Augusta to contact their council members and insist on a referendum. It's the American Way!

Oh, yes, and it's for the chi - i - i - ildren.

I didn't think you had a dog in the show.

Better drop the "225-unit apartment complex" part of that deal if you want this to remain a first class area and project. Hammonds Ferry sets the bar pretty high in my opinion and they don't need to have property values destroyed in the long term by a large apartment complex.

Brad

I think you watching the A/RC Commission in action over the past years has tainted your sense of trust. lol

Read before you jump tax payers.....please read this....

http://reason.com/archives/2012/10/31/taxpayers-on-the-hook-for-gwinnett...

I went to the city's website to see how much it costs to rent Lake Olmstead Stadium for events, wondering what kind of break the Greenjackets get in rental fees. All it mentions are baseball games, office hours, and box office hours. The best I could come up with was this, although written in legaleeze, it looks like the city gets $50k from Ripken to tie up the stadium, Ripken owns and receives $$ from all concessions for "all activities" held at the stadium, sell and receive revenue from all advertising at the stadium, all revenue from broadcast, and the city is responsible for repair and upkeep. Im not a lawyer, so someone help me out. It sounds to me like we bought a cow for someone else, we get to pay for feeding it, building and upkeep of the barn, and when we sell the milk, they get the money.
http://appweb.augustaga.gov/WEBLINK8/docview.aspx?id=13570&dbid=0

I was living in Gwinnett when this happened and what we were told by the Commissioners and the Power Brokers was on script with what Augusta was seeing and being told. Different players and actors but pretty much the same script.

The citizen demanded a NO vote on the stadium in numbers of almost 4 to 1. The commissioners voted for it one night with no public notice, to do it anyhow. In short the Gwinnett Residents were lied to also. But they had the last laugh, it lit fire in their bellies that ended up putting several commissioners in jail, plus forcing the resignations of a few others.

The Gwinnett people were also promised a biblical holy grail, and it turned out to be an broken overflowing septic tank.

Funny that you said this 5 years ago...

I love the idea of developing

I love the idea of developing the river, but why put in apartments?? Apartments never appreciate in quality. They only last as long as the next bigger and better complex gets built, then the development goes downhill and becomes either vacant or polluted with crime. Not a smart move on the North Augusta planning committee

??

I understand your excitement about having a new development downtown. I understand your willingness to pay for it with your taxes. I just want the people of North Augusta to think long and hard about the costs and the benefits and then to vote their beliefs.

In Augusta, we seldom realize what was promised. North Augusta’s government may be more transparent than Augusta’s. I hope so.

I hope we keep Lake Olmstead Stadium for the Summerville campus of GRU baseball's team. (See how stupid it is trying to describe the former ASU?)

That was when they were planning to build ONLY apartments. There was no talk of a Project Jackson 5 yrs ago. HUGE difference when it's a mixed community of retail, office, residential, & social activity, versus a single apartment complex. Much better planning & better use of space. We all watched the townhomes beside River Club go under foreclosure and deemed it a failure. However, put that development on the other side of the bridge and see what happens.