The 13-member Metro King County Council votes Monday on
whether to approve the Legislature's funding package for a new
$320M ballpark for the Mariners. According to this morning's
SEATTLE POST-INTELLIGENCER, Pete von Reichbauer, the county's
point man on the stadium, wants to add a provision to protect the
county against having to use its operating fund to cover stadium
bonds. In addition, von Reichbauer and other council members
want to remove the new Public facility District, created under
the Legislature's proposal. The District, a board of seven
county and state appointees, would have broad powers to site,
design, construct and operate the new stadium. The team favors
the District idea, and the Legislature would resist attempts to
remove it. The team has set an October 30 deadline for funding
approval, but it is not clear whether the Mariners "would keep
the team off the auction block if the council, unhappy with the
state package, tinkers with the plan in any way that reduces
prospects for completion of the stadium" (Ed Penhale, SEATTLE
POST-INTELLIGENCER, 10/20). Wayne Perry, a former McCaw cellular
exec and one of the team's 16 shareholders, said it was
"exciting" to see their investment pay off -- at least
"emotionally" -- during the playoffs. But as far as the team's
financial state, he said the M's late-season success "didn't make
a tinker's damn of difference." Ownership estimates losses to be
$30M for this year (Angelo Bruscas, SEATTLE POST-INTELLIGENCER,
10/20).
SOMETHING TO THINK ABOUT: Recent statistics from the
National Planning Association's Data Services show Seattle to be
"one of the best and fastest growing markets in the country
between now and 2015." Population growth should hit 43%, up from
22% nationally. And per capita income will be $25,314 in 2015,
also above the expected $20,699 national average (Stephen Dunphy,
SEATTLE TIMES, 10/20).
