Several of the local media outlets told us the other day “ballpark debt to be paid by 2021”.
What they should have told us is that the city thinks that the taxpayer funded subsidy currently necessary to pay the debt service might not be necessary in order to pay the debt service costs after 2021.
The city says that they believe that the combination of hotel occupancy taxes dedicated to the project and sales tax revenues generated from within the ball park will be adequate to cover the debt service costs after 2021.
The latest projection that we have been able to find from the city indicates that they will use hotel occupancy taxes and sales tax revenues to pay the mortgage until 2043.
We deserve better