Remember this story from a couple of days ago, in which City Manager Tommy Gonzalez said that El Paso can maintain its bond rating if City Council has the political will to raise taxes?
And remember this story from KVIA, where the City’s Chief Financial Officer Dr. Mark Sutter said
“I told council ‘I don’t think you ever saw the actual results of the financing compared to the models. It’s not a pretty sight,” he said in an interview Tuesday.
Does that mean that the Hotel Occupancy Tax isn’t paying for the ballpark? (Ha!) And, more importantly, does it mean that City Council will have to raise taxes to cover the short?
Or will we just coast along with a reduction in city services?
How short is the ballpark financing compared to the models? The ballpark has been well-attended. I don’t think we can squeeze more juice from that lemon.
I sure would like to see “the actual results of the financing compared to the models.” That might be a relevant factor as the City decides to build that downtown arena .