Re: Ford Center improvements up for March 4 vote
Somebody argued that the "increase" generated by a professional team is neglegible considering that most ticket owners are local - the money would have been spent elsewhere.
Im not so sure I agree with that. Even if you consider Econ 101, you need a stimulous to have a growing economy. That was the SOLE purpose of MAPS in the first place - public dollars for economic stimulous.
Now, we've seen where that's got us. $390M in public money for a revamped downtown, including a barebones NBA/NHL acceptable STARTER arena to get their attention; this has so far equated to some $2.5B in private dollars!!!
And it was stated that the Hornets provided an economic stimulous of $60M per annum - and trust me, this was lots of dollars from Tulsa, Lawton, Wichita, and even the Dallas area (I'd venture to say 40% of the sales). These people ate at OKC restaurants and stayed at hotels - by the way, this is how they come up with the numbers (hotel/restaurant totals vs. NORMAL without the NBA).
So, there IS economic stimulous and I'd say there is REAL economic growth attributable to a permanent major-league team. Surely, I'd expect the $60M per annum to be even higher with a permanent franchise - especially since it will also include the WNBA, which will target ALL demographics and income levels!!
Somebody also argued, (I think it was Metro), why not increase the hotel/motel tax. Well, we should, but not to improve the ford center. OKC is not large enough nor has the large number of hotel rooms (luxury rooms) to justify having a large tax. If we raised the tax significantly, we will lose our competitive advantage that OKC has over EVERY city!!! Furthermore, it would take FOREVER to get the dollars in place from a hotel tax increase. Think about it,
I'd argue that OKC currently has over 14,000 hotel rooms (basically 2000 more than the circa 1996 total), and of those - only 900 rooms are AAA 4 diamond or higher (Renaissance Hotel 311 rooms + Colcord Hotel 151 rooms + Skirvin Hotel 250 rooms + Marriott Waterford 197! Even so, say we raised it 2 cents like metro said, and assume EVERY HOTEL ROOM WAS BOOKED EVERY NIGHT and the avg rate is $125; that would give us $35000 per day or ONLY $12.8M per annum. Now, we'd have to do that for 10 years in order to get the same money a 1 cent sales tax would generate. ....
[I agree we should raise it, but that (more realistic 70% occupancy) $8M a 2 cent increase in the hotel tax would generate should go toward Will Rogers World Airport and/or tourism purposes.]
Now, back to the 1 cent tax and Ford Center. ...
The idea is, improve the Ford Center to make it comparable to a top 10 building, secure a permanent franchise, and PACK THE DAMN ARENA ALL YEAR LONG with NBA games, WNBA games, concerts, and Conference/National sporting events!!!
Hopefully, and Im sure, this is the goal of the city - and once this happens, we will at LEAST make up that $125M - one year 1 cent tax extension, in less than two years with a team. And the team will be the beacon and shining star for Oklahoma City nationwide, OKC is finally on the map.
.. Can't beat that for a penny (heck, I'll gladly pay it for whoever is complaining when I visit).!!!
Oklahoma City, the RENAISSANCE CITY!
Bookmarks