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Building new Houston stadiums adds up

05:27 PM CDT on Friday, August 22, 2008

By Lee McGuire / 11 News

HOUSTON – Houston taxpayers have spent a lot on stadiums.

Video
Who is paying for Houston stadiums?
August 22, 2008

The Astrodome cost $35 million to build but because of later renovations, we’re still $35 million in debt.

Then there’s Minute Maid, the Toyota Center and Reliant Park.

In fact, by using bonds to help pay for these projects the government has basically taken out $1 billion mortgage.

And just like your mortgage, the final price tag over 30 years will be about twice that amount.

To pay for this, the City of Houston is charging hotel occupancy taxes and motor vehicle fees until 2032.

The City of Arlington went a step further and increased its sales tax to buy a new home for the Cowboys.

But a Dynamo stadium would be different say experts.

The team’s offered to pay for almost all of it. The city and county will put up about $10 million at most.

“I think there’s support for the Dynamo as a team there’s no support for using general tax dollars to support it,” said Harris County Judge Ed Emmett.

A vote on whether to pay for part of the stadium will be held next month.

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