Portland approves $31m in NBDL arena tax breaks

The Maine Red Claws minor-league basketball team has been approved for a 30-year, $31 million tax exemption for a planned $100 million project that will, according to the Portland Press Herald, “include two office buildings, a hotel, an arena/convention center, a concert hall and a parking garage.”

No clue how they build all that for $100 million, and also not sure exactly how the financing on this works — press reports say that the city will receive $26.4 million from the project over 30 years, but not whether that’s rent payments or expected economic activity or what. One hopes at least that they get the Times in Maine, and read it before approving this deal.


4 comments on “Portland approves $31m in NBDL arena tax breaks

  1. Portland is a great city to visit already and this is completely unnecessary. The Maine Red Claws seem to draw OK for NBDL but that is simply local people interested in basketball (people visit Portland for the islands, beer, outstanding food, family, etc.). The city has already given tax breaks to build hotels and they have plenty of hotels in the area (and their old “stately” hotel is suffering already).

    This is pretty good example of cannabalizing existing money (and that is assuming this successful which I highly doubt).

    The location is also terrible in that there are plenty of hotels by the airport for people that want car convenience and the location would not be convenient for walking to the Old Port or ferries or good eating or drinking.

  2. 30 years? Really? In the 31st year of this deal, if the Red Claws are still playing in Portland, then I will be season tickets. Courtside.

  3. Oh boy. So the city of Portland is going to give millions for this development, which will include an “arena/convention center” (whatever that really means; is it just a convention hall with a few thousand seats for basketball games or is it a real arena).

    Meanwhile, Cumberland County, of which Portland is the county seat, is most likely going to hold a referendum this November to allow bonding to renovate Portland’s current arena (and for around the same cost).

    www.pressherald.com/news/Civic-Center-preliminary-design-contract-up-for-vote.html

    Something strange is going on up in Maine. And while the AHL Portland Pirates don’t exactly have the longevity of the Hershey Bears or Rochester Americans, they’ve been in town for 17 years, and the clock is now ticking on when they’ll scream for some money.

  4. I had a dream to make my own firm, but I did not have enough of cash to do this. Thank God my close fellow advised to utilize the credit loans. Hence I used the car loan and realized my old dream.

Leave a Reply

Your email address will not be published. Required fields are marked *.
NOTE: Personal attacks on other commenters are not allowed in comments, and will be deleted.

HTML tags are not allowed.

757,959 Spambots Blocked by Simple Comments