![]() If lawsuits from environmental and neighborhood interests cut down the number of units on the site, there goes the revenue.Ĭhargers executives say they don’t have nearly enough time to find out. Yet raising $600 million would require more convincing.įor starters, bond investors would have to believe in the mayor’s ability to navigate the California entitlement process, which routinely humbles large corporations that do nothing but land development for a living. Namely, the people in thousands of apartments and condos next to a new stadium at the Qualcomm site, whose taxes on property and on-site retail spending would repay a bond. One way to keep today’s public from paying for a stadium is to tap tomorrow’s taxpayers. This brings us to taxpayer option three redevelopment. Would you vote to keep the Chargers, especially if a stadium bond might require no tax hike? However, they might get behind an “enhanced infrastructure district,” a new public financing vehicle that requires a 55 percent majority. More columns about Business by Dan McSwain No political leader wants to confront such a hurdle. Task force chairman Adam Day has ruled out this idea, because any new tax dedicated to a stadium site would require a two-thirds majority vote. ![]() This brings us to option two, which is a tax hike on San Diegans. But politically powerful hotel owners also didn’t want competition for the tax dollars paid by their customers, which supports tourism promotion as well as general city government spending. The task force rejected this idea because the land, which includes an MTS bus yard, wasn’t quickly available. This was essentially the plan advanced by the Chargers and former Padres owner John Moores, for a stadium in downtown’s East Village that could double as a convention center building. First, political leaders could ask visitors to pay for it, in the form of higher taxes on hotel stays and maybe rental cars.
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