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Ceramicrabbit t1_j9ibwwa wrote

Reply to comment by uglybushes in Steelers to replace urinal troughs at Acrisure Stadium by YinzerBob

Are tax players still paying for the stadium? I know the fee is still on ticket prices but the stadium was built 20 years ago for $280M (not entirely by tax dollars) and just got $150M naming deal from Acrisure. Throw in the $57M from the old Heinz deal and that's the majority of the public money paid back just in naming rights. I have a hard time believing they havent already paid off those initial costs especially with the fee on ticket prices specifically for that purpose.

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tesla3by3 t1_j9iihte wrote

The taxpayers were paying paying off Three Rivers stadium debt until about 2010, nine years after it was demolished. The debt on the Civic Arena wasn’t paid off until 5 years after it was demolished. (Not the original debt, but for improvements over the years )

Unless there was additional debt incurred in the past few , the debt on Acrisure Stadium will be paid off in 2031.

The naming rights money goes to the Stealers.

Edit to fix typo

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S4ltyInt3ractions t1_j9ii83s wrote

They added 1% to sales tax we will pay in perpetuity

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tesla3by3 t1_j9imwhl wrote

The vast majority of the 1% goes to things like libraries, parks, museums. Fully half of it goes directly to the county and municipalities for their general fund.

I think it’s like ten percent goes to the 3 sports facilities and the Convention Center debt service. Still too much though.

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AnewENTity t1_j9lgux4 wrote

Not really a reply to your comment but I just don’t believe anything they say anymore on where these taxes go

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tesla3by3 t1_j9lkec7 wrote

You can find the budgets for almost all of the funded organizations online. You’ll see a line item for “RAD Grant “or something similar.
If RAD was falsely claiming to give a grant, and the institution never received it, they’d certainly be complaining.

Also, there’s multiple levels of outside auditing. Both RAD and most of the recipients have annual financial audits, as well as audits to show that the money was used for the intended purpose.

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yinzdaddy t1_j9jpzr1 wrote

Most of thw debt was 30 year bonds so technically will be paying off those debts for another 10 years or so.

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69FunnyNumberGuy420 t1_j9k5f84 wrote

The Steelers and the Pirates both will be agitating for a new stadium within the next few years. As far as I'm concerned they can both fuck off to Albuquerque, there's nothing wrong with the existing stadiums.

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