This article in Bloomberg Businessweek on the Hartford Yard Goats stadium mess doesn’t break a whole lot of new ground for those already following the now-two-months-and-counting-delayed Double-A ballpark, but I have to mention it because of this one awesome quote:
For the 2018 budget, [Hartford Mayor Luke] Bronin anticipates a $34 million shortfall, thanks to payments on debt that are coming due. The gap balloons to $78 million by 2022. “The stadium isn’t the straw that broke the camel’s back here,” says Melissa McCaw, Hartford’s director for management, budget, and grants. “It’s just some hay that was dumped on a crippled, half-dead camel.”
That’s about the size of it. In most cases — not Cincinnati or Glendale or Bridgeview, but most cases — ballooning stadium subsidies simply aren’t a big enough part of the municipal budget to bankrupt your city all by themselves. They sure don’t help, though.
There’s also this somewhat more confusing quote from McCaw, though it’s possible it’s only the context that makes it seem confusing:
McCaw says that with the stadium unfinished and no new revenue sources available, the city may need to lean on the state for help: “I really just have no idea how we’re going to close that budget gap.”
Whereas if the stadium were finished, Hartford would be … getting a whopping $500,000 in rent this year from the Yard Goats? That’s not going to do much to reincarnate the camel. As embarrassing as the delays are for all involved, the fiscal problem came with spending $63 million in city money (plus free city land) in the first place on a stadium that would generate little to nothing in the way of direct city revenue even if it opened on time. Now everyone involved is just haggling over the blame.