Anyone Who Criticizes The Phantoms Or Arena Is Clueless

That was a comment left somewhere on another site somewhere which I forgot. I'm not going to criticize "The Phantoms". The arena itself is another matter Although not directed at me I hardly consider myself "clueless" when it comes to criticism of this project. Neither should anyone else who's been critical of it.

I'll begin by using this article published in "The Morning Call" as my source along with some of my own math.



The costs involved with the parking deck, two attached buildings and the arena itself totaled $282 million. Two to three times more then any other minor team hockey arena in the country. The arena is expected to generate $16 million a year towards it's debt over 30 years. For 30 years taxpayers in Pennsylvania will have to make up the estimated $16 million a year in revenue redirected into this loan. $16m x 30 years translates to nearly 1/2 a billion dollars.

Most arenas require updating every ten years or so.
Who's going to come up with that money?

Part of the costs of clearing and purchasing the 37 property for the arena came in at around $25.7 million alone. Unlike the arena most of the 37 properties were paying state and local property taxes. Therefore I would think it not unreasonable to assume the actual costs to taxpayers would be near 3/4 a billion dollars in tax loses over 30 years for the entire arena project. Far more then what's being widely quoted.

"The Phantoms" signed a 29 year lease. Which is considered the life expectancy for the average arena. Better hope the team stays solvent, we have a lot of events and some spillover dollars to neighboring businesses. Otherwise we will have nothing to show for it in the end.

If you want to talk "clueless" this person has to be it's very definition. If this was such a hot investment why wouldn't the team get together with a bunch of investors and build it to line their pockets?

Hope this person and others are enjoying the seats paid for by taxpayers like myself who are forced to supplement the costs for them. I can think of better uses for my tax dollars. Entertainment wouldn't be one of them. You know dumb stuff like only the essential services government was first intended to provide.