$30 million in federal tax dollars spent on new MLB spring training facilities in Arizona (from White House 'stimulus' fund)
- The Arizona Diamondbacks and Colorado Rockies will get new spring training facilities courtesy of the US taxpayer. Dollar amount teams will contribute if any said to be "confidential."
- The Salt River Pima-Maricopa Indian Community says it may borrow as much as $30 million of the estimated cost of the $100 million complex near Scottsdale that will become the spring home of the Arizona Diamondbacks and the Colorado Rockies.
- part of the federal recovery plan.
- Instead of accepting the bonding authority, the tribe has decided to take advantage of
- new rules for tax-exempt financing that came as part of the stimulus act, a spokesman said. Those new rules will let the tribe apply for up to $30 million through a tax-exempt loan program with a bank. The rules also redefine what sort of projects can be financed that way,
- beyond basics such as infrastructure.
The stimulus program increased the borrowing limit on such loans from $10 million to $30 million. That gives the tribe the ability to borrow that amount from a
- bank that gets tax incentives for making the loan. The bank can pass on the cheaper cost of borrowing....
The $1 billion was the first round of a $2 billion bonding-authority program that lets tribes issue bonds to raise money. ...
- He declined to say what the baseball teams may be contributing to the project, saying that was part of a confidential agreement.
The complex will have a ballpark with 11,000 seats, 12 practice fields, and office and training facilities. The 140-acre site is near Loop 101 and Indian Bend Road."...*****
- From MLB.com, no mention of the $30 million taxpayer funding:
- 1/10/10: "A state-of-the-art facility is the new norm for Spring Training.
The Reds' $23 million complex features six full practice fields plus two half-fields for infield work, and space for agility drills. There are multiple bullpens and covered batting cages. The facility also features a 43,000 square foot, two-story building for offices, clubhouses and rehabilitation.
- "It's a new chapter for us," said Dick Williams, Reds vice president of baseball operations. ...
- Next year, the Rockies and the D-backs will leave Tucson for a new facility
- on Salt River Pima-Maricopa Native American Community land near Scottsdale."...
- MLB.com, "Cactus league expands from humble roots" 1/10/10 by Jesse Sanchez
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