Most of the analysis done for other cities is in reference to the financial return taxpayers receive for subsidies offered to arena developers. Since we aren’t seeking any subsidies and will privately fund this project, the calculus is different here. Initial analysis by MuniCap, a nationally-recognized finance consultant, shows the new arena will generate additional […]
In detail, how did 76DevCo come to estimate its claims of tax revenue and economic output? How are those numbers backed up by data?
The 76 Place development team engaged MuniCap, a firm with over 20 years experience in tax projections and advising municipal governments, who estimated tax revenues by applying the City’s taxing methodology and tax rates to the taxable operations for both the arena and Fashion District Mall. Their analysis assumes removal of the arena parcels from […]