make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Now Tom

You're nice.
If Duke is gonna use the local area demographics to insure attendance then there will be NO NEED for more local hotels.
And of course we can't seem to attract developers for the convention center hotel right now either as we are on our 4th attempt.
The only way to do the hotel tax is to do either city hotels ONLY, or county hotels which would require state legislative approval. Given the anti tax increase make up of our legislature that won't happen.

so we shall see - it will either be a general obligation bond hopefully including some private financing from people with DEEP pockets.

Or a revenue bond with specific taxes imposed by the city collected for the ballpark ONLY. (right now the county collects revenues for beach re-nourishment and tourism promotion through hotel room taxes which includes all city hotels).
This is an interesting conundrum the city is putting itself in. If they go general obligation bonds they will double the city's debt with this one project. They are in good shape financially and have no problems servicing their current debt.
If they go revenue bonds by increasing room taxes the only way they can do this themselves is by taxing city hotels only - which will impact the very people we WANT to come to the ball games - tourists. Its very easy to spend other peoples money but thats wearing awfully thin right now.

Best Regards


The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
Please re-enter the code shown in the image below.