In two presentations at the Independence Bowl Skybox the REV Entertainment plans were well presented.
The first was last fall when Adrian Perkins was mayor, and the second last week with Mayor Arceneaux at the press table.
Yep--the plans and hype were shining and bright.
But are they gold, or just fool's gold?
That my dear, is the $75 million dollar question.
That amount is the bucks needed from the City of Shreveport to seal the deal, as of a week ago.
Hmmm.
The Shreveport Captains/Swamp Dragons left town after the 2002 season.
Many changes since then will affect attendance at the proposed new ball park including:
1. Shreveport has a successful hockey team that usually is in the playoffs.
2. Major league baseball can be viewed/streamed every night now, and many games on the same day.
3. NBA playoffs have been expanded to end in mid June.
4. College baseball can be viewed on TV and streamed until the end of the College World Series in June.
5. Pro football now has two spring leagues now compete with baseball along with the NFL pre-season.
6. Pro soccer can be viewed on TV and streamed.
7. College football starts early and most games can be streamed.
8. There has been a substantial decline in the population of northwest Louisiana since 2000.
9. Cable TV has greatly expanded offering many more shows
10. Movies can now be streamed on cell phones and tv
11. There is a growing reality of the number of shootings in the city, even along I-20. that have affected the State Fair and has dampened enthusiasm of many to leave home a in the evening.
12. Several large businesses have left the area and others have scaled back sponsorships of local events
In a few weeks, the total projected cost of Phase I for the ball park and hotel will be released. Whether or not the projected contribution of $75 million from the City of Shreveport will increase is unknown.
So here is what IS known:
a. The mayor has said that any moneys from Shreveport will not be raised from General Obligation Bonds or an ad valorem tax increase. This leaves the most viable option to be revenue bonds tied to the ballpark venture that are guaranteed by the City.
b. Mayor Tom is in the process of preparing a Request for Proposal (RFP) for a feasability study on the economics of the development, payment of revenue bonds, etc.
c. The demolition contract for the old stadium has been cancelled by the City with the payment of a contract cancellation fee. The delay costs of the contract and the litigation pushed this economic decision which is reflective of good government principles.
d. The city must resolve the litigation filed by the Friends of Fairgrounds Field to allow for the demotion of the old stadium. No court date has been set for the next hearing.
e. The fair grounds area, sans the Louisiana Museum, the historic fire station owned by WK Health Systems and Fair Grounds Field, , is subject to a 99 year lease with the State Fair of Louisiana. This lease must be modified to allow for the proposed three phases of the REV plan.
f. The city's downgrade of the bond rating for the water and sewage enterprise system does not send a good message for other bond ratings.
g. The vote on the re-authorization of the ad valorem tax millage on April 29 will send a clear message to city officials on the temperament of Shreveport citizens on future city expenses.
Mayor Tom is on the right path. Hopefully all Shreveporters will not only acknowledge that but push back on unbridled optimism.
