FEBRUARY 6, 2006
A recent commercial on television suggested that only 1 cent of 15 cents goes towards Ford Park.
What the commercial did not say is that one cent is equal to and generates $1.4 million.
$1.4 million dollars does not cover the operational cost of the entertainment complex. It does not cover the debt service of Ford Park. So this commercial is erroneous.
The operational cost now stands at $1.5 million and the debt service at $3,870, 951 which is approximately $5.3 million total funds needed to pay for the entertainment complex. So that one cent doesn't go very far. If you look at percentages it will be 10% and above %14.
If the commercial were going to be truthful it would say right now it takes 4 cents out of 15 cents to pay the operation cost and debt service of Ford Park. Or $5.6 million dollars.
And then it would say that amount will rise significantly in the future to 6 cents of our 15 cents or approximately over $8 million dollars. To cover the operational cost and debt service of ford park. Surely you have to factor in the operational cost rising from $1.5 million upwards to $2 million with inflation in building materials, salaries, and cost of doing business. Etc.
We could say that the 6 cent property tax rate increase from last year, 4 cents of it goes to fund Ford Park.
By the year 2025 we will have paid #165 million for the entertainment complex. A facility that has never made a profit and never will and can't possibly pay for itself. Yet it is a burden on the taxpayer.
By the year 2025 the taxpayers will have paid $165 million in operation cost and debt service for that facility. In order to fund this thing taxes will have to be raised to meet the demands of the growing cost. That means higher taxes. You do remember this was only supposed to cost $55 million in the beginning.
That’s a hefty price to pay for a building that was hailed as the most important factor in keeping our children from moving away from this county and bringing visitors from Houston and Lake Charles. That building does not increase the vitality of this county. Nor does it add to the quality of life of our infrastructure. That Building not a reputable business like Burlington coat factory or Newman Marcus or a chocolate factory.
Your numbers guy said Ford Park would make $481 million in 10 years. I think it has some catching up to do.
mar Griffith you stated at the time ford park was being talked about and planned that you would take this to the voters and let us vote wither or not we wanted it built.
If you truly trusted the taxpayers, then we would have gone to the polls and stated our opinion with a vote. But the court at that time took it out of the hands of the taxpayers because you didn’t believe we wanted the complex to begin with. You didn’t trust our decision.
It is a known fact that all across the country these facilities do not make a profit or pay for it self and the taxpayer gets stuck with it. This county does not have the interest or the fiancés to spend out there to financially support it.
The biggest event out there generated $130,000, there would have to be one event like that every single weekend for an entire year to pay what the facility cost.
This will not happen. Don’t ever spend our money again without our vote.