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Finnegan's comments:
on Soccer City, USA?
Factotum aka Smiley - did you even listen to the program today? Merritt Paulson explicity stated that he would be guaranteeing his family's money on the bonds.
And Glascow? The only reason that guy was on was because he is shilling for his boss who will be developing and building the HQ Convention Center Hotel ($210 Million in taxpayer backed bonds) and is worried that the proposed RQ baseball site will draw bonding ability away from his site.
As for URA tax receipts being divereted from future general bond - well you can argue that against ANY URA. It's the whole point of creating URA's - spur development now based on future anticipated tax receipts. I would love to hear if Mr. Glascow is against URA tax receipts being diverted to pay for his HQ Hotel Project.
Factotum be careful, there are those who like this project who probably know alot more than you.
posted 4 years, 2 months ago
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on Soccer City, USA?
The City of Portland owns the stadium. If you want Paulson to go off and build stadiums in the suburbs for his team with private financing than tell me what you would like us to to do with an empty historic 20,000 seat stadium in the heart of the city that we still owe money on?
Let me guess - more condos? Or maybe you want to turn it into a dog park?
posted 4 years, 2 months ago
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on Soccer City, USA?
The city hired an independent economic auditor to give a report to the Task Force. He verified the numbers.
Next!
posted 4 years, 2 months ago
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on Soccer City, USA?
Can you please ask Mr. Glasgow what his role is in the convention center hotel project and whether he thinks $210 million in taxpayer backed bonds for a hotel is good use of public dollars?
What is his role in that effort?
Mr. Glasgow is opposed to this project because he sees a baseball stadium at the Rose Quarter threatening his clients who are advocating for the Convention Center Hotel.
CONFLICT OF INTEREST
Call him on this.
posted 4 years, 2 months ago
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on Soccer City, USA?
Can someone please ask Mr. Glasgow if he thinks there should be $210 Million in publicly backed bonds for the convention center hotel? And what is his role in the Convention Center Hotel?
This guy has a second agenda. Ask him about it.
posted 4 years, 2 months ago
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on Soccer City, USA?
While I appreciate your concern about the curb outside your house we are talking about two distinct pots of money here.
The bonds that would be used to remodel PGE Park are backed by the Facilities and Spectator Fund. This fund is used to run and operate city owned spectator facilities like the Memorial Coliseum and PGE Park.
It also takes in revenue from parking at the Rose Garden, hotel taxes, rental car taxes and surcharges on tickets sold at city owned facilities like PGE Park.
Which brings me to point #2. Paulson is asking for bonds to be paid back through rent and ticket surcharges because we the people own PGE Park. He is already investing $40 million of his own money to purchase the team. If we asked him to invest $35 million to remodel PGE Park then obviously he would want a return on that investment in the form of equity ownership in the property. The city has no interest in that.
Which brings me to my final point. Paulson has guaranteed the paying back of these bonds with his family's personal wealth. There is zero risk to the taxpayer.
posted 4 years, 2 months ago
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