Cowboys Stadium Texas Cost $1.15 Billion is Tax Exempt, Non Profit

[Stinger2]

Cowboys Stadium Texas Cost $1.15 Billion Tax Exempt Non Profit

Originally estimated to cost $650 million, the stadium's current construction cost is $1.15 billion, which would make it one of the most expensive sports venues ever built.<8> To aid Cowboys owner and general manager Jerry Jones in paying the construction costs of the new stadium, Arlington voters approved the increase of the city's sales tax by one-half of a percent, the hotel occupancy tax by 2 percent, and car rental tax by 5 percent. The City of Arlington will provide $325 million in funding, and Jones will cover any cost overruns. Also, the NFL will provide the Cowboys with an additional $150 million, as per their policy for giving teams a certain lump sum of money for stadium financing. There will be a separate section for the blind and deaf.<9>

http://en.wikipedia.org/wiki/Cowboys_Stadium

The company was also backed by Wall Street investment firm Goldman Sachs and Dallas private equity firm CIC Partners LP.

http://www.legendshm.com/index-4.html

Stadium eminent domain imminent for homeowners

Mr. Magnus would not say how much the city has offered him for the house he's owned for two years, but he said it wasn't enough to pay off his mortgage.
"They are just giving me pennies and telling me to get out," he said

http://www.dallasnews.com/sharedcontent/dws/news/localnews/cowboysstadium/stories/062505dnmetcondemn.415743ed.html

eminent domain for private gain....

One of the most famous eminent domain cases involved the Cowboys' future home of Arlington, where baseball's Texas Rangers, at the time owned by George W. Bush, convinced local voters to approve a 1991 tax increase that helped build a new $191 million stadium. The city of Arlington used eminent domain to acquire the property from hundreds of private owners, claiming that the stadium was a "public use," just like highways, schools, or government buildings. Several property owners were lowballed, and court decisions increased their take. (The city, not the team, was responsible for the larger payments. The compensation for one 13-acre plot was increased from $877,000 to $5 million, for example.)

The stadium clearly benefited the Rangers' owners more than anyone else: Bush turned his initial $600,000 investment into $15 million when the team was sold in 1999. But it has produced little of the promised economic benefit to Arlington, and there has never been a real "public use" factor aside from baseball fans' paying their money to see games.

Opponents of stadium deals argue that teams and local governments are getting around the public use issue by placing the stadium or arena in the ownership of a "public sports authority." The property is then tax exempt, and the teams pay nominal rent that is often less than they would have owed in property taxes. The lease arrangements are often lopsided in favor of the teams; many, for instance, allow the franchises to move after a certain time if revenues do not hit projections. This threat to pull stakes and run gives teams strong leverage to renegotiate. If the sports facility were privately owned, there would be no lease to haggle over, and the team would be less willing (and able) to leave.

http://durangotexas.blogspot.com/2009/05/dallas-cowboy-stadium-eminent-domain.html

These people have come so powerful they don’t give a damn about anyone or anything, the laws are for those poor working class, not for us $Millionaires $Billionaires.

[provis99]

1. Yet another reason to hope for Texas independence

The Cowboys: "America's Team". Baloney. The Cowboys are Right-Wing Yahoo America's Team. And they should pay for their own damn stadium.

[DCKit]

2. Wowsa. DC only paid 666 million, 666 thousand and 666 hundred.

I'm feelin' lucky.

[Stinger2]

3. Non-profit organization

Non-profit organization

A nonprofit organization (abbreviated NPO, also not-for-profit) is an organization that does not distribute its surplus funds to owners or shareholders, but instead uses them to help pursue its goals. Examples of NPOs include charities, trade unions, and public arts organizations. Most governments and government agencies meet this definition, but in most countries they are considered a separate type of organization and not counted as NPOs.

http://en.wikipedia.org/wiki/Non-profit_organization

Pay for CEOs at nonprofit organizations still on the rise despite recession

http://www.tauntongazette.com/news/business_news/x1175996404/Pay-for-CEOs-at-nonprofit-organizations-still-on-the-rise-despite-recession

This is Bull Shit, just another scam to not pay taxes. Pay the CEO's millions in some cases, I would say that is a profit or Income that needs to be taxed.

[Octafish]

4. Texas Stadium is how Smirking Monkey got stinking rich.

Know your BFEE: How Smirko Got Rich

GOP Economics: The rich get richer and the poor get poorer.

[Mrs. Ted Nancy]

5. There will be a separate section for the blind and deaf

What part of the stadium will this section be in? I'm guessing the parking lot.;)

[PfcHammer]

6. "There will be a separate section for the blind and deaf..." and dumb

which will be occupied by the Arlington voters