Rockhill site going south fast it seems.

[raleigh-panther]

Tepper is worth $16.7 billion 

he paid an idiot $65 million 

if he wants this bad enough it can be done with tax breaks and incentives to make it worth his while 

I don’t care what he does or does not do.

rock hill was stupid to go for a pipe dream with a snake 

[Jackie Lee]

1 hour ago, LinvilleGorge said:

It's weird to me watching people actively rooting for billionaires to fleece municipalities. 

It'd be a much wiser move by Rock Hill to invest $21k per each impoverished resident in their city than hand Tepper $225M to help fund his headquarters. 

What's the upside for Rock Hill? I don't know the area but assume the facilities biggest immediate impact would be like 100 Panthers employees spending money at gas stations or whatever on their way to work. I'm sure they were going to have a cafeteria at the facility that would cover 80% of food needs. I guess some politicians or whatever thought it would be some sort of revenue/tax stream to benefit the county/state but attendance at training camp the last couple seasons has sucked ass and actual practices are closed to the public so, I didn't get it from the jump. Maybe Tepper liked the cheap land and SC liked the image of having something relevant happening in a random town

[CBDellinger]

14 minutes ago, Pakmeng said:

The area is being developed in to more than just a practice facility. It will have residential, office and retail. All of these increase the tax base of the community going forward. 

This is why local government was interested in partnering and investing in infrastructure for the area

Electro was off on a tangent about raising taxes for some reason. It's not raising taxes it's expanding the tax surface. This is how thy pay for toys for police, infrastructure, etc.

I'm honestly surprised how folks dint understand the foundation of how this stuff works.

 

The incentive deal states the City of Rock Hill would forgo all its property tax revenue from the Panthers project for up to the next 30 years. The Rock Hill School District would do the same for 75 percent of its revenue, and the county 65 percent. 

Property tax is the largest source of revenue in York County. 

[Jackie Lee]

23 minutes ago, Pakmeng said:

The area is being developed in to more than just a practice facility. It will have residential, office and retail. All of these increase the tax base of the community going forward. 

This is why local government was interested in partnering and investing in infrastructure for the area

Electro was off on a tangent about raising taxes for some reason. It's not raising taxes it's expanding the tax surface. This is how thy pay for toys for police, infrastructure, etc.

I'm honestly surprised how folks dint understand the foundation of how this stuff works.

 

So it's an attempt at gentrification of an otherwise non-desirable Charlotte suburb?

[Tbe]

1 hour ago, Jackie Lee said:

What's the upside for Rock Hill? I don't know the area but assume the facilities biggest immediate impact would be like 100 Panthers employees spending money at gas stations or whatever on their way to work. I'm sure they were going to have a cafeteria at the facility that would cover 80% of food needs. I guess some politicians or whatever thought it would be some sort of revenue/tax stream to benefit the county/state but attendance at training camp the last couple seasons has sucked ass and actual practices are closed to the public so, I didn't get it from the jump. Maybe Tepper liked the cheap land and SC liked the image of having something relevant happening in a random town

Property taxes from businesses are the primary revenue source for SC cities and counties from what I understand. SC state law significantly limits residential property tax rates so attracting new big businesses with big properties is important to these places if they want to get more revenue for schools etc.

Considering that, the breaks they are offering now is a big deal. They are forfeiting an important Rev stream.

[DamnItJake!]

Lol.. I don’t care means more free training camp at Wofford ..

[DamnItJake!]

Just move it to Spartanburg where they are wanted!! Simple!! But I do get it’s just training camp not a sports facility.. but I am sure Spartanburg could do better than Rock Hill

Edited April 9, 2022 by DamnItJake!

[Jackie Lee]

16 minutes ago, Tbe said:

Property taxes from businesses are the primary revenue source for SC cities and counties from what I understand. SC state law significantly limits residential property tax rates so attracting new big businesses with big properties is important to these places if they want to get more revenue for schools etc.

Considering that, the breaks they are offering now is a big deal. They are forfeiting an important Rev stream.

If they can raise property taxes on businesses without screwing the OG homeowners that would be ok. I'm in NYC and it doesn't end up being so friendly to the working class landlords/tenants. Here it leads to more money for cops, gentrified schools, etc.. generally no benefit to the older residents who don't get a pay raise when the city gets a tax revenue raise, you just get priced out of your home eventually

[Davidson Deac II]

22 minutes ago, Tbe said:

Property taxes from businesses are the primary revenue source for SC cities and counties from what I understand. SC state law significantly limits residential property tax rates so attracting new big businesses with big properties is important to these places if they want to get more revenue for schools etc.

Considering that, the breaks they are offering now is a big deal. They are forfeiting an important Rev stream.

Don't live there, and I don't have a dog in this fight, but if I understand, its a revenue stream they don't currently have, right?  So they aren't really giving up anything.   Or maybe I am misunderstanding how it works.  

[Snake]

10 hours ago, Tbe said:

Property taxes from businesses are the primary revenue source for SC cities and counties from what I understand. SC state law significantly limits residential property tax rates so attracting new big businesses with big properties is important to these places if they want to get more revenue for schools etc.

Considering that, the breaks they are offering now is a big deal. They are forfeiting an important Rev stream.

It was stupid for Rockhill to even except this offer. They don't have the tax base to support it. It has nothing besides a college there. Property tax isn't per say limited but yes it's not like the tax structure of say NY or NJ. 

[Brooklyn 3.0]

Just make it an attraction inside Carowinds, lol.

[CanadianCat]

Someone said it earlier in this thread. There would be a very different discussion if suddenly the Panthers had won 12 games last year. 

 

A deal is a deal... Until politics get involved

[LinvilleGorge]

14 hours ago, DamnItJake! said:

Just move it to Spartanburg where they are wanted!! Simple!! But I do get it’s just training camp not a sports facility.. but I am sure Spartanburg could do better than Rock Hill

You can't have your headquarters that far away, especially not with the traffic on I-85 that's only going to keep getting worse.

[top dawg]

18 hours ago, Pakmeng said:

The area is being developed in to more than just a practice facility. It will have residential, office and retail. All of these increase the tax base of the community going forward. 

This is why local government was interested in partnering and investing in infrastructure for the area

Electro was off on a tangent about raising taxes for some reason. It's not raising taxes it's expanding the tax surface. This is how thy pay for toys for police, infrastructure, etc.

I'm honestly surprised how folks dint understand the foundation of how this stuff works.

 

Only a few of the rich get richer. It's not a good deal for the average person.

 

Edited April 9, 2022 by top dawg