The winner of the bidding war for Madison Square Garden
"will walk away with a hidden jewel: a giant property tax
break worth more than $100 million over the next decade,"
according to Douglas Feiden of the N.Y. DAILY NEWS. Due to
a deal made in '82 by then-NYC Mayor Ed Koch, the arena
doesn't pay real estate taxes to the city as long as it is
used by "professional major league hockey and basketball
teams for their home games" (N.Y. DAILY NEWS, 2/25)....After
an "initial ice-cold reception," WA Gov. Gary Locke's plan
to raise taxes for a new Seahawks stadium is "slowly gaining
a bit of bipartisan legislative support ... But the governor
still faces a formidable sales job ahead." The bill "drew a
stunning lack of support from members of the House Trade and
Economic Development Committee" that is scheduled to hear
the measure next week (SEATTLE POST-INTELLIGENCER, 2/25).
...In a deposition hearing in former Tampa Mayor Bill Poe's
suit against stadium funding, Tampa Mayor Dick Greco said he
had "never seen (the Bucs') bottom line," but through news
reports, NFL contacts, and word of mouth, "was satisfied the
Bucs needed the extra income and would leave without a new
stadium." Greco: "To think they wouldn't have gotten an
offer (to move) is ludicrous" (TAMPA TRIBUNE, 2/25).
