Friday, August 11, 2006

Is Anyone Really Surprised That Lucas Stadium May Have Cost Overruns - Or Corporate Welfare At Its Zenith

In today's Indianapolis Star is the article titled "Digging deeper: Stadium costs rise".

Libertarians aren't surprised. As usual with most government projects, such as the Central Library in Indianapolis, it is overpromised on its costs to the taxpayers. While there is still time for all to work out - it is highly unlikely it will come in at or under budget as most stadium and other government projects have severe cost overruns.

Most irritating is the corporate welfare aspect of the stadium. The Colts have no legal obligation to help with any cost overruns, yet they get all the benefit. (And I have no problems with the Colts and Irsay taking advantage of the City of Indianapolis - as far as I can tell they did it openly and transparently - it's hard to refuse money from government when they are throwing buckets full of it at you.)

Lastly, I'd like the City of Indianapolis to build a new building for my law practice. I bet it can be done for less than $2 million, I only need them to take by eminent domain the building and site across the street that I covet, and it will be good for the city to have a law office in such a fine facility - and it will enhance the national reputation of Indianapolis (I have a lot of friends and clients across the country). I'm thinking about asking the capital improvements board to do this. They did it for big business Colts, why not a small business like my law firm? Equal treatment under the law?

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