MMPI - $901 million; County (so far) Zero

The County has pulled another Gateway. Only better - for the operators.

It looks as if the medical mart and convention center will cost County taxpayers – and this is if there are no snafus - $1 billion.

The County has agreed to pay $40 million a year for 20 years to equal $800 million to build the facilities. Can you say that slowly? Eight hundred million dollars.

It will then turn the facilities over to Merchandize Mart Properties, Inc. (MMPI) and pay then MMPI $6 million for three years or $18 million and $5 million for the next 17 years. That totals $103 million.

Already the County’s bill is $903 million. Can anyone say, “One billion dollars!”

MMPI will invest (somehow) $20 million of its own. Don’t ask for receipts. The MOU says that MMPI will pay in cash, not in-kind. However, it says the money will be to be used for “paying the costs of the project and to enhancing and expediting the successful completion, opening an operation of the facilities.” Wide open. What a party they’ll throw for the opening of this one.

Now the County Commissioners – Tim Hagan, Jimmy Dimora and Peter Lawson Jones – have not allowed you – the taxpayer – to go home empty handed. The county gets to keep ALL of the money it might get from naming rights. Sam Miller Convention Center?

When do we have to start building garages for them?

How much will the County and the City have to tap the taxpayers for the hotel? You know, we do need a luxury hotel to go with a sparkling new convention center, the big boys have already said so.

That's it for now. Stay tuned.