Harrison Square.


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Harrison Square The time has come to temper our richness with watchful examination… The baseball stadium CAN'T exist without the lodging The inn CAN exist without a baseball stadium Of the accompanying certainties
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Slide 1

Harrison Square It is a great opportunity to temper our extravagance with watchful contemplation…

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The baseball stadium CAN’T exist without the lodging The inn CAN exist without a baseball stadium Of the accompanying actualities another inn is a stand alone venture for which the city purchased Belmont property years back to bolster the Grand Wayne Center And an ice-skating arena or soccer field or other stylishly satisfying office would give the same advantages

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Public dollars + premium (does exclude cash for Hotel and Garage) $60-65 Million Stadium 60 Condos/retail 90 Parking spaces …Will They Come? Private (Hardball) dollars for The Project $19.5 Million $9.8 for 60 Condos $4.7 for Retail $5.0 for Stadium If we construct it…

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And ask the accompanying inquiries... Is it the most ideal approach to utilize the taxpayers’ cash? Whether it’s Property Tax or Income Tax, isn’t it hard and fast of the assessment payer’s pocket? Should open cash be spent on NEW pleasantries, not copy those effectively serving the group? Can’t we give our city “Room to Dream” by empowering different thoughts for this range?

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And the accompanying ones… Is baseball the BEST advancement? Is existing stadium INADEQUATE? Will Coliseum recover LOSS from stopping, concessions and lease installments? Should apartment suites be based on RIVERFRONT as opposed to around a ballpark? Numerous bidders for apartment suites?

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And the accompanying... On the off chance that it’s worth $60-65 million to tempt the building of 60 condominiums and retail locations, would it be a good idea for us to bring advancement that supplements something we don’t as of now have? Should we put out proposition to different engineers around the nation to hear their thoughts for endeavors outside the lodging and carport? On the off chance that it’s worth doing, isn’t it worth doing right?

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TOTAL 42.14 M TOTAL 31.2 M TOTAL 30.26 M CEDIT 19.84 M CEDIT 12.62 M TOTAL 22.0 M TOTAL 21.20 M TOTAL 14.22 M JEFF. PTE. TIF 25.2 M JEFF. PTE. TIF 16 M CRED 11.25 M CRED 7.14 M HARRISON PTE. TIF 19.1 M HARRISON PTE. TIF 12.12 M Parks Bond 1.5 Parks Bond .95 Light Lease Fund: 1M Current Credit Bond 5 M JEFF. PTE. TIF, CASH ON HAND 6 M Cash Reserves 3.55 M BELMONT PURCHASE 2.1 M TOTAL FUNDS TOTAL FUNDS TOTAL FUNDS PRESENT VALUE PRESENT VALUE PRESENT VALUE Cash Reserves Cash Reserves CAN BE SPENT IN : DOWNTOWN CRED & ELSEWHERE 45% of TOTAL JEFFERSON POINTE TIF 33% of TOTAL HARRISON SQUARE TIF 22% of TOTAL Harrison Square : WHERE the MONEY COMES FROM and WHERE IT COULD BE SPENT 

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TOTAL 57.98 M INTEREST 4.12 M LAND & INFRASTRUCTURE 4.5 M CONDOS, RETAIL 4.16 M INTEREST 14.56 M LAND & INFRASTRUCTURE 4.74 M TOTAL 19.5 M 4.68 M RETAIL STADIUM 25.9 M 9.82 M CONDOS 5 M STADIUM CITY of FORT WAYNE HARDBALL, INC. Harrison Square : PHASE ONE COMMITMENTS on STADIUM, CONDOS & RETAIL 

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TOTAL 45.2 M INTEREST 14.56 M LAND & INFRASTRUCTURE 4.74 M TOTAL 14.9 M TOTAL 14.9 M TOTAL 14.5 M STADIUM 25.9 M RETAIL 4.68 M CONDOS & RETAIL CONDOS 9.82 M STADIUM 5 M FORT WAYNE HARDBALL, INC. HARDBALL PHASE I HARDBALL PHASE II HARDBALL PHASE III STADIUM CONDOS & RETAIL Harrison Square : COST of STADIUM versus Expense of CONDOS & RETAIL 

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The Economics of Sports Facilities and their Communities

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“The Economics of Sports Facilities and their Communities” “Few fields of experimental examination offer virtual unanimity of discoveries. Yet, autonomous chip away at the monetary effect of stadiums and enclosures has consistently found that there is no measurably huge positive relationship between\'s games office development and financial development.” Baade and Dey, 1990; Baim, 1992; Rosentraub, 1994; Baade, 1996; Noll and Zimbalist, 1997; Waldron 1997; Coats and Humphreys, 1999. page 103 John Siegfried and Andrew Zimbalist Journal of Economic Perspectives , Vol. 14, No. 3, Summer 2000, pages 95-114.

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“The Economics of Sports Facilities and their Communities” However, regardless of the possibility that we accept, hopefully, that by and large individuals spend as much outside the games office as they do inside, the financial effect of games groups in extent to an ordinary metropolitan economy is diminutive.” page 104 Ibid

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AREA RETAILERS AREA RETAILERS AREA RETAILERS Claim and reality THE CLAIM Existing offices are “inadequate” another stadium would encourage endeavors to redevelop a urban center BUT... no impelling for free retailers to put resources into nearby organizations

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“The Economics of Sports Facilities and their Communities” CORE DEVELOPMENT “Neither a football stadium facilitating ten diversions every year, nor a baseball stadium park with 81 recreations, is liable to affect numerous objective autonomous retailers to put resources into contiguous businesses.” page 109 Ibid

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“Professional Sports as Catalysts for Metropolitan Economic Development” ABSTRACT “The essential recipients of sponsorships are the proprietors and players, not the taxpaying public.” page one “These results recommend that expert games have been oversold by expert games promoters as an impetus for monetary development.” page 16 Robert A. Baade (1996) Journal of Urban Affairs , Vol. 18, No. 1, pgs. 1-17

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“The Economics of Sports Facilities and their Communities” KEY REASONS Apart from their generally little size , there are three key reasons why expert games groups don\'t advance monetary improvement: the substitution impact; broad spillages; and the imaginable negative impact on neighborhood government budgets.” page 115 John Siegfried and Andrew Zimbalist Journal of Economic Perspectives , Vol. 14, No. 3, Summer 2000, pages 95-114.

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“The Economics of Sports Facilities and their Communities” Three key reasons why expert games groups don\'t advance monetary improvement Substitution impact Extensive spillages Negative impact on neighborhood government spending plans John Siegfried and Andrew Zimbalist Journal of Economic Perspectives , Vol. 14, No. 3, Summer 2000, pages 95-114.

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“The Economics of Sports Facilities and their Communities” “…the stadiums assembled over 10 years back do exclude the extravagance boxes, club seats, cooking offices and publicizing open doors that produce income from high wage fans. At the end of the day, in spite of the fact that the current offices are not physically out of date, they are financially old .” page 98 Ibid

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“Professional Sports as Catalysts for Metropolitan Economic Development” “…the new sort of stadiums is monetarily driven in ways that baffle instead of support neighborhood monetary improvement .” page 3 Robert A, Baade (1996) Journal of Urban Affairs , Vol. 18, No. 1, pgs. 1-17

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“Cities Back from the Edge, New life for Downtown” “To believe that stadiums can give a salvation or even a mellow help to the ills of downtown is unadulterated folly…” page 318 Robert Brandes Gratz with Norman Mintz. Conservation Press, 1998

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“ THE RISE OF THE CREATIVE CLASS …and how it’s changing work, recreation, group and ordinary life.” “Not once amid any center gatherings and meetings did any individual from Creative Class notice proficient games as assuming a part of any kind in their decision of where to live and work . page 303 Richard Florida. Fundamental Books, an individual from the Perseus Books Group, New York. 2002.

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“THE RISE OF THE CREATIVE CLASS … and how it’s changing work, recreation, group and ordinary life.” “…professional games stadiums. The apparent financial objective of these offices is one to which they are magnificently insignificant. The latest studies demonstrate that stadiums don\'t produce financial riches and really diminish neighborhood salary. Also, contemplate, for a minute, the open door expenses of these offices. Envision what could be expert if the a huge number of dollars were spent on college research or different things that really produce monetary wealth—or even on all the more fine-grained neighborhood upgrades and way of life conveniences that draw in and hold gifted people.” Page 303 Richard Florida. Fundamental Books, an individual from the Perseus Books Group, New York. 2002.

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67% is Public Spending “More than $21.7 Billion will be spent on these 95 stadiums and enclosures constructed or arranged subsequent to 1990. Open coffers will contribute near 66% of th

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