Put a New Stadium Downtown
by Carl Paladino
The stadium should be built downtown so as to share the economic boom with the downtown business community and thereby justifying public financing of the stadium. Access to hotel, restaurant and other hospitality services, 20,000 public and private parking spaces and other entertainment would keep Canadian and American attendees in the downtown area to spend their leisure money. It would be an economic generator and Niagara Power Project surplus monies dedicated to Western New York industries to promote economic development can then be used to pay the debt service on the bonds to fully finance the construction of a new stadium. Most of that money now improperly goes into the State’s general fund. Allocated but unused power dedicated to Western New York economic development is being sold by the New York State Power Authority (NYSPA) on the open market generating a surplus of at least $300,000,000 per annum. Applying $100,000,000 of those funds annually to support a Billion Dollars in in new stadium construction is a no brainer. For the last 4 years Andrew Cuomo and the New York State Legislature have swept over $1 Billion from the NYSPA accounts to the detriment of Western New York. Cuomo is now trying to give the illusion that he is giving WNY a Billion dollars when in fact he is giving us back a portion of our own money. In the interests of full disclosure my companies own properties in the South Main area which have been assembled over the past 35 years.
Attached are aerials showing a viable 63 acre site for a stadium outlined in white. Outlined in black hash marks is the route of an extension of the NFTA Light Rail over its existing Right of Way into the proposed stadium site and, if needed, additional land south for park and ride lots.
In the interests of full disclosure my companies own properties in the South Main area which have been assembled over the past 35 years.
- Carl Paladino, Buffalo
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