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Thread: Liberty Bowl redo - $220M

  1. #16

    Default Re: Liberty Bowl redo - $220M

    Quote Originally Posted by HoustonCajun View Post
    The Liberty Bowl is home to the Memphis Tigers. It is undergoing a $220M redo and below is how it is being financed. Can Lafayette take a cue from Memphis in support of UL's stadium redo?

    LIBERTY BOWL
    $121.5 million from State Allocation
    $30.9 million from an existing city 0.5% hotel/motel tax
    $30.9 million from the city's new city 1% hotel/motel tax
    $27.3 million from an existing city/MLGW PILOT
    $4.4 million from a 5% stadium TDZ surcharge
    My cousin is a big Memphis fan, he told me about this. There is also major bucks for other althetics facilities... but to be honest, the Liberty Bowl has needed it, bad. Lovely architecture, but it's falling apart.

    Memphis is also building an Engineering School. They are up & comers; much like us, they have been the #2 school in a one-school state. But they persevered.

  2. #17

    Default Re: Liberty Bowl redo - $220M

    Quote Originally Posted by CajunFun View Post
    My cousin is a big Memphis fan, he told me about this. There is also major bucks for other althetics facilities... but to be honest, the Liberty Bowl has needed it, bad. Lovely architecture, but it's falling apart.

    Memphis is also building an Engineering School. They are up & comers; much like us, they have been the #2 school in a one-school state. But they persevered.
    Doesn't hurt that they share the city with three fortune 500 companies (FedEx one of them).

  3. #18

    Default Re: Liberty Bowl redo - $220M

    Quote Originally Posted by CajunFun View Post
    My cousin is a big Memphis fan, he told me about this. There is also major bucks for other althetics facilities... but to be honest, the Liberty Bowl has needed it, bad. Lovely architecture, but it's falling apart.

    Memphis is also building an Engineering School. They are up & comers; much like us, they have been the #2 school in a one-school state. But they persevered.
    Also the Tennessee medical school is in Memphis. Made that trip a few times.

  4. #19

    Default Re: Liberty Bowl redo - $220M

    Quote Originally Posted by HoustonCajun View Post
    I don't know, but you may be right. Even so, UL's financial impact on the city of Lafayette and Acadiana is huge and an investment by the city would not only help UL but put tax dollars in the city coffers as game day events draw greater crowds. Not to mention what kind of financial impact an entertainment zone could have if it can be developed around the Cajun Field area.
    The surrounding neighborhoods across congress will fight tooth and nail for the property not to be developed into an entertainment area.

  5. #20

    Default Re: Liberty Bowl redo - $220M

    Quote Originally Posted by lafman1 View Post
    The surrounding neighborhoods across congress will fight tooth and nail for the property not to be developed into an entertainment area.
    The city councilman from that area is fighting against AB&Bs, donít see him being open to this near his home.

  6. #21

    Default Re: Liberty Bowl redo - $220M

    Quote Originally Posted by ZoomZoom View Post
    The city councilman from that area is fighting against AB&Bs, don’t see him being open to this near his home.
    They fought and won recently when a convenience store/tobacco shop with fuel pumps was to be converted at the bank at four corners.

  7. #22

    Default Re: Liberty Bowl redo - $220M

    Another Tax would never pass in Lafayette in these times!


  8. #23

    Default Re: Liberty Bowl redo - $220M

    Quote Originally Posted by Cajunrunner View Post
    Nevermind, then. I take back my poor assumption.

    There is NO WAY a no income tax state could have better finances than those with income taxes. Impossible.
    I mean think of the rural schools!

  9. #24

    Default Re: Liberty Bowl redo - $220M

    Quote Originally Posted by CharlieK View Post
    I mean think of the rural schools!
    I went to school at two rural schools, one in Yoakum County, the other in Chambers County. Both were ISD's and neither was short of funding to achieve their goals. I started school at Klondike, TX, another ISD. Though it was nowhere close to the other two financially, considering that the total K-12 enrollment is around 200 the school was well financed.

    I acknowledge that not all rural districts are rich, but many are better off financially than one would think.

  10. Default Re: Liberty Bowl redo - $220M

    Quote Originally Posted by VObserver View Post
    I went to school at two rural schools, one in Yoakum County, the other in Chambers County. Both were ISD's and neither was short of funding to achieve their goals. I started school at Klondike, TX, another ISD. Though it was nowhere close to the other two financially, considering that the total K-12 enrollment is around 200 the school was well financed.

    I acknowledge that not all rural districts are rich, but many are better off financially than one would think.
    We shouldn’t compare 1900-1930 Louisiana rural schools districts to 2020 forward. It’s just a different world, and we don’t need the state being the arbiter of the individual districts taxes.

  11. #26

    Default Re: Liberty Bowl redo - $220M

    Quote Originally Posted by VObserver View Post
    I went to school at two rural schools, one in Yoakum County, the other in Chambers County. Both were ISD's and neither was short of funding to achieve their goals. I started school at Klondike, TX, another ISD. Though it was nowhere close to the other two financially, considering that the total K-12 enrollment is around 200 the school was well financed.

    I acknowledge that not all rural districts are rich, but many are better off financially than one would think.
    Property taxes vary in Texas from one county or school district to another. When we left Texas we lived in the Joshua school district. It is one of the better school systems in Texas, along with neighboring Burleson. We needed to live in the area for my job. Regardless, our taxes (county and school taxes) ran close to 8000 per year for our upper 200k house. If you have school age kids, this is a good deal because they attend schools that are better than a lot of private schools. We did not have school age kids, but we had to pay the premium anyway. To be fair, the county roads and other local government services were excellent also. I guess you get what you pay for. I know people who live in rural areas of Texas who pay very low property taxes. (1500-3000 depending on property value) I retired near Opelousas, and my property taxes are very low. This was a factor in moving here, along with having family in the area. Since I no longer work, I have very little income tax as well. Having said that, the schools and roads in the area are very poor.

  12. #27

    Default Re: Liberty Bowl redo - $220M

    Just as an unrelated aside; Klondike is one of a very small number of official Ghost Towns in the US to have a High School that is actually open.


  13. #28

    Default Re: Liberty Bowl redo - $220M

    Quote Originally Posted by Crawfish View Post
    Property taxes vary in Texas from one county or school district to another. When we left Texas we lived in the Joshua school district. It is one of the better school systems in Texas, along with neighboring Burleson. We needed to live in the area for my job. Regardless, our taxes (county and school taxes) ran close to 8000 per year for our upper 200k house. If you have school age kids, this is a good deal because they attend schools that are better than a lot of private schools. We did not have school age kids, but we had to pay the premium anyway. To be fair, the county roads and other local government services were excellent also. I guess you get what you pay for. I know people who live in rural areas of Texas who pay very low property taxes. (1500-3000 depending on property value) I retired near Opelousas, and my property taxes are very low. This was a factor in moving here, along with having family in the area. Since I no longer work, I have very little income tax as well. Having said that, the schools and roads in the area are very poor.
    8000 per year for a 200k valued home in Texas is pretty out of the norm. We’re y’all in a new, unincorporated development that had a ____ ton of MUDs attached to its property taxes?

    But yeah, then your below statement about moving to Louisiana upon retirement, I think that’s part of the issue.

    If you’re a working professional making income, then Texas suddenly becomes attractive without having a state income tax. Especially if you have school aged kids, then you can live in a good school district where you don’t have to worry about forking over private school tuition for a really good education.

    Then suddenly, upon retirement, Louisiana becomes ideal place to settle in due to low property taxes. Which is awesome to be in the friendly South Louisiana communities.

    But that’s the thing, Texas, Florida and Tennessee are attractive for working professionals, while Louisiana is enticing for old retirees after they’ve made their money.

    Seems like not the best combo for our home state.

  14. #29

    Default Re: Liberty Bowl redo - $220M

    Quote Originally Posted by Cajunrunner View Post
    Nevermind, then. I take back my poor assumption.

    There is NO WAY a no income tax state could have better finances than those with income taxes. Impossible.
    Lived in Knoxville 5 years and Texas for last 22, both are free of income taxes.....Property is taxed higher.

  15. #30

    Default Re: Liberty Bowl redo - $220M

    Quote Originally Posted by Policarp View Post
    Lived in Knoxville 5 years and Texas for last 22.....Property is taxed higher.
    I’m aware it’s taxed higher. There was lots of sarcasm in my comment that you replied to.

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