Running total

Some readers have asked recently if anyone knows what the total cost of the ball park is at this point.

These numbers are ones that I attribute to the cost.  I hope that the readers of this blog will help us to build a more accurate accounting.

Double your pleasure showed us that the $61 million in bonds will cost us $137,286,965.10 by the time we pay them off.  That is unless the folks down at the city refinance the deal again.

Opening day was about a “guaranteed maximum price agreement” with the ball park contractor.  The document excluded certain things from the price, like:

  • railroad platforms and bridge
  • railroad platform foundations
  • Missouri and Durango street improvements
  • offsite improvements/work (this probably includes the water and sewer work the city is not talking about as well as the pedestrian and road work around the park)
  • special construction provisions required at railroad
  • porcelain/art signage
  • 4 TOPP or 2 TOPP tables and loose chairs
  • aluminum and fabric sun shades

Train wreck was about the deals the city had to cut with a railroad in order to get a sliver of the land that the ball park now sits on.  In addition to the $238,810 the city had to pay for 8,684 square feet of land, paying $27.50 per square foot, the city had to sell two acres of land adjacent to the $27.50 land for $11.10 per square foot.  Citizens suffered the economic consequences of the city agreeing to close eight railroad crossings throughout the city as part of the land deals.

Shameless told us about a deal where the city gave the state $5 million to enhance bridges between Portfirio Diaz street and Missouri avenue.  The state will spend $2.7 million for two pedestrian overpasses going over the depressed train way leading into the ball park.  The state will also spend $800,000 dollars for pedestrian wayfinding in downtown.

Baseball art showed that the city was going to spend  $850,000 with three artists for work to be done at the ball park.

In El Paso quality of life update the fact that the city was spending $500,000 from quality of life bonds to build a pedestrian pathway into the ball park.

Shoes dropping addressed the fact that “El Paso Water Utilities will handle the work and pay to redo the water and sewer lines in the area…”

Various studies have been paid for relative to traffic, congestion, noise and vibration.

In addition, the sports group has agreed to pay up to $10 million outside of taxpayer money.

Moving city hall has now cost us over $70 million.

That gives us:

  • $137 million to pay off the bonds
  • $239 thousand to buy land from the railroad
  • $5 million to the state
  • $850 thousand for art
  • $500 thousand from the quality of life bonds
  • unknown amount for the water utility to do their work
  • $70 million to move city hall

I come up with about $220 million in capital costs.  Operating costs are another matter.

Not bad for a $35 million stadium that Inside job told us about.

We deserve better

Brutus

 

 

 

3 Responses to Running total

  1. U says:

    Don’t forget about the ongoing costs of leasing space for the Tax department and the loss of productivity by having people spread out over town. Oh forgot about the cost of police and fire outside of the stadium and the yearly 3 million + being skimmed out of the general fund as a result of the downtown.TIRZ/TRIZ

    I asked if they would pay those cost out of the money going into the downtown special tax district and they said no. I understand that that money is to help out the property owners who refused to keep their downtown property up to code. I guess that is how you make money which is to use someone elses money.

    Like

  2. I hope the baseball fans are getting $220 million+ enjoyment out of the ballpark. I know Woody and Josh Hunt are laughing all the way to the bank with this fiasco. On the other hand, I get irritated every time I want to conduct business with the City and have to find out where the various departments are in our scattered “City Halls.” I will continue with additional irritations as our Hotel Occupancy Tax falls short of expectations, thus raising City taxes further. As a long-time business owner in El Paso, I know I will be looking for another city to retire. Our taxes are ridiculous, and I refuse to pay outrageous taxes for paltry benefits in return.

    Like

  3. Jerry Kurtyka says:

    Probably as good an estimate as any. City Hall isn’t going to tell you how much this really cost anymore than UMC is going to explain why it owns and expects rent for the EPCH building that we paid $120MM to build.

    It’s all good in Woody Land.

    Like

Leave a Reply -- you do not have to enter your email address

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: