Wednesday, October 7, 2009

For Sale

The Fort Worth Star-Telegram daily newspaper has another TRV article you can't afford to miss.

LaGrave Field and surrounding land for sale.

This is a scary prospect for the backers of the Trinity River Vision, which aims to reroute a river and create an urban island about the size of the central business district.

This is more than a case of simply wanting development to occur; the Trinity River Vision project depends on it.

Its finance plan hinges on construction creating higher property taxes in the area, with that money being used for land acquisition and other expenses.

Its revised finance plan assumes no growth for three to five years, and to keep the project moving, it has arranged for a loan from the Tarrant Regional Water District.

Baseball fans are most concerned about the fate of the Cats, and the team has a pressing deadline to secure commitments for next season. But in the big financial picture, the team is insignificant, and LaGrave Field is more of an albatross than an asset.

The problem is that the city doesn’t have any extra money. The only public entity with surplus funds is the water district. Its mission is to provide water and flood control, and its full-throated support of the Trinity River Vision is already pushing the limit.

It has to draw a line somewhere, and the minor-league stadium is the place.

We're glad to hear there is a line somewhere...finally.
If the Water District has surplus funds, why did your water bill increase again?

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