Mardi Gras at Cajun Field

[LouisianaB]

you showed revenues of the Mardi Gras Association, were there expenses listed as well? if UL is taking a percentage strictly off revenue (before expenses) then that 35,000 number may not look as bad as it does against a net number. (I may have just missed expenses and this post may not mean anything)

The number is rent plus 5 percent revenue of parking and RV spots

[ManAboutTown]

The number is rent plus 5 percent revenue of parking and RV spots

Minus several line items of operations expenses and deprecation and Maintenance. Not including benefits of advertisement and revenue produced after the fact.

We don’t have the requisite information at our disposal to nail down an exact number. But just using the numbers you provided, based on comparison (someone used Evangeline Downs property - which btw, really isn’t a comp property), the money does not make sense.

[cajun4life]

Okay, so again, no actual number. $35k is too low for y’all but y’all can’t tell me what it should be.

$35k per day.

[ManAboutTown]

FMV is not really the point here. If you have a monopoly on something, you hold all of the cards. You set the price. There is no negotiation.

[Turbine]

Comparison: The City of Lafayette pays $500G a year just to control use of the Cajundome.

How many actual days they use it? I do not know.

[LouisianaB]

$35k per day.

Hahaha yea?

[LouisianaB]

Comparison: The City of Lafayette pays $500G a year just to control use of the Cajundome.

How many actual days they use it? I do not know.

You do realize CD is a multimillion dollar, multipurpose venue with millions invested into making it a decent venue. And then theres a parking lot.

[BabbForHeisman]

FMV is not really the point here. If you have a monopoly on something, you hold all of the cards. You set the price. There is no negotiation.

I believe I posted earlier, market value is the maximum you can charge without Mardi Gras being moved or cancelled.

[Turbine]

You do realize CD is a multimillion dollar, multipurpose venue with millions invested into making it a decent venue. And then theres a parking lot.

Pure profit

[cajun4life]

Hahaha yea?

Go to another similar sized city and try to rent the same space and see what it cost.